COLUMBIA, S.C., Dec. 15, 2011 /PRNewswire/ -- EagleEye Analytics, Inc., the leading provider of world class predictive analytics solutions to the insurance industry, announced today that effective immediately, Roger Burkhardt has been appointed President and Chief Executive Officer.
Since its launch in 2007, EagleEye Analytics has demonstrated dramatic growth and recognition within the market. Several recent milestones offer strong proof that the company has positioned itself as the leading innovator in the industry. In 2011, EagleEye secured two exclusive strategic alliance agreements with Milliman, Inc. and Guy Carpenter & Company, LLC. Milliman, Inc. is the leading provider of actuarial and related products and services to insurance markets worldwide. Guy Carpenter & Company, LLC is the leading global risk and reinsurance specialist and a member of Marsh & McLennan Companies. The year also saw an expansion into the European market due to customer demand.
The power behind EagleEye's Talon Analysis Engine, combined with the expertise of its consulting offerings, provide customers transformational insights into their business. Over the last four years EagleEye has been "proven best" in virtually every line of business and in numerous functional applications within them. For example, a top ten global insurance provider is projecting a 10 point loss ratio improvement on its commercial lines portfolio strictly from utilizing Talon results. Customers are also integrating EagleEye Analytics into real time scoring models to drive their operations and manage their portfolios.
After successfully establishing itself in the market, EagleEye is now launching into the next phase of growth, and is bringing in a proven CEO to lead this effort. Roger Burkhardt's background exemplifies vision, strategy, and intellect with leadership experience that includes IBM, where he was responsible for its Wall Street business, and the New York Stock Exchange, where as CTO and EVP he led the 2000 person division in NYSE's move to electronic trading and advanced analytics. Most recently, as CEO of Ingres Corporation, Burkhardt grew the business by >300%, while driving the business to profitability and maximizing analytic database technology. He recognizes that "EagleEye has the technology, leadership and vision to lead the insurance industry in the adoption of predictive analytics for broad operational use."
Burkhardt will bring his insight into the parallels between the impact of analytics on capital markets and current applications of predictive modeling insurance. Analytics were first applied in investment management to guide overall strategy via periodic asset allocation models. They are now used to drive real time investment decisions. Insurance is similarly moving beyond periodic pricing analyses. A broader impact will now range from much more granular and targeted pricing changes to service level optimization, agency management, policy terms and conditions, and marketing.
Burkhardt emphasizes the critical importance of quality to analytic models in both industries: "The global financial crisis highlighted unrealistic assumptions in most risk models, such as the incidence of 'fat tails' in probability distributions. Insurance has its own specific probability distributions which generic products don't handle. EagleEye Analytics is unique in that its Talon technology has been developed specifically for insurance data and so delivers demonstrably superior results."
About EagleEye Analytics, Inc.
EagleEye Analytics empowers insurance carriers to dramatically improve results using the most robust predictive analytics available in the insurance industry. An in-depth understanding of insurance and business economics is an essential component of EagleEye's value. Combining this expertise with sophisticated multivariate, non-linear machine learning algorithms, EagleEye Analytics' solutions provide significant financial improvements and competitive advantages for clients. Portfolio managers can analyze, determine actions, and monitor real time results for virtually every factor that impacts underwriting results for the first time using EagleEye Analytics. 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
SOURCE EagleEye Analytics