EagleEye Analytics' Real-Time Scoring Service Links Powerful Insurance Analytics Engine to Carriers' Day-to-Day Decision Making

COLUMBIA, S.C., Aug. 1, 2012 /PRNewswire/ -- EagleEye Analytics' new Real-Time Scoring Service is enabling insurance carriers and program managers to harness the power of analytics within their day-to-day decision-making, according to EagleEye, the leading provider of world-class predictive analytics solutions for the property and casualty industry.  Capitol Insurance Companies and Distinguished Programs are implementing the new service to enhance their commercial lines underwriting.

EagleEye's Real-Time Scoring Service is a cloud-based solution that makes the firm's machine learning-based technology -- proven best in more than 160 engagements -- available in real-time.  Not only can the solution be embedded into front end policy management systems, but data is also presented in a dashboard format so that executives can manage profitability by line of business, customer segment, and producer, as well as understand the lifetime value of these components of the portfolio.

"We've long used EagleEye's unique technology to generate profit enhancing insights into our business," said Andy Potash, Chairman of Distinguished Programs.  "Initial results with their new scoring technology suggest it will provide us with a finer filter and greater precision in risk selection coupled with the capability to make real-time underwriting decisions to further grow our business."

According to Larry Seymour, Chief Actuary, Capitol Insurance Companies, "We plan to embed the scoring capability into our real-time quoting system, enabling us to be more competitive and responsive to our agents, and write the risks that are best for our business."

Potash explained, "EagleEye's machine learning technology will allow us to combine publicly available data with our own data to reduce the number of questions we ask our brokers, reducing time and processing cost for both of us without compromising our underwriting data requirements."

Next Generation Predictive Analytics

"Real-time scoring gives companies a significant competitive edge," said Roger Burkhardt, President and CEO of EagleEye Analytics.  "Combining predictive technology with real-time access creates a significant, positive financial impact.  Carriers can act on the best possible information instantly."

"EagleEye has created a new opportunity for carriers to gain informed perspective into their businesses, and take action on that perspective," said Bob Meyer, principal and consulting actuary with global actuarial consulting firm Milliman, which has an alliance with EagleEye that enables it to offer the firm's analytics solution to its clients.  "Real-time scoring is cutting edge – not only because the information is delivered in real-time, but the fundamental technology is so powerful."  

Pinpointing the Profitability of New Business

"Real-time scoring tells carriers which business to write, and equally importantly, it tells carriers which business not to write," according to Burkhardt.  In one example, EagleEye's scoring analysis for a workers compensation carrier showed that eliminating four percent of its policies would significantly improve the loss ratio, creating the potential for $389 million in profits over five years had it implemented real-time scoring service earlier.  "Embedding this level of powerful predictions into the carrier's day-to-day operations gives them the ability to run their businesses with a reliable forward-looking view," Burkhardt said. 

About Capitol Insurance Companies

Capitol has been insuring business owners since 1959.  Capitol is a national underwriter of specialty insurance products in niche areas of the commercial property and casualty and the fidelity and surety markets.  Through its operating entities, Capitol Indemnity Corporation, Capitol Specialty Insurance Corporation and Platte River Insurance Company, Capitol offers high quality customer service in programs tailored to the needs of its customers' business and risk management strategies. Information on Capitol is available at www.capitolindemnity.com.  Capitol has an A ("Excellent") rating from A.M. Best. 

About Distinguished Programs

Distinguished Programs is a leading national insurance program manager focused on niche products for select business segments and industries.  The company provides a wide range of competitive property and liability products for real estate risks and an umbrella liability program for museums.  Products are distributed through a growing network of more than 3,000 independent agents and brokers.  Distinguished is a partner in SES Insurance Brokerage Services, Inc., the premier insurance program manager and service provider for bank-managed trust property portfolios, and IDP Holdings, a joint venture acquisition vehicle.  Distinguished's subsidiary company is China-based ReSource Pro, the leading business process outsourcing company for the insurance industry.  Distinguished is the recipient of the "Best Practices Designation" by the Target Markets Program Administrators Association.   For more information, please visit www.distinguished.com.

About EagleEye Analytics

EagleEye Analytics provides transformative business solutions to the insurance industry through the application of breakthrough predictive analytics technology.  The company's machine learning technology has been customized for the unique requirements of the insurance industry and has been proven to give the best predictive results in over 160 implementations.  The firm's customers improve profitability and growth through enhanced real-time decision-making across their entire business; including pricing, underwriting, distribution and marketing.  A privately held company, EagleEye Analytics is backed by FirstMark Capital in New York.  For more information visit EagleEye Analytics' website at www.eeanalytics.com.

Contact: Sarah Lloyd
(803) 726-7208
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SOURCE EagleEye Analytics