On The Move
Buckeye Insurance Group Selects EagleEye Analytics, Provides Foundation for Reconstructing its Auto Program
Jul 19, 2012
COLUMBIA, SC - July 19, 2012 - The Ohio-based insurer plans to optimize its auto program with help from EagleEye, according to EagleEye Analytics, the leading provider of world class predictive analytics solutions for the property and casualty industry. Buckeye has partnered with EagleEye on an enterprise-wide predictive analytics solution to enable the carrier to provide more competitive rates for its personal auto policies.
Traditional rating methods were creating a competitive disadvantage for Buckeye, which operates in an auto insurance market comprised of rural drivers who often travel long distances, according to John Brooks, Chief Operating Officer and Senior Vice President, Buckeye Mutual Insurance Group. The carrier selected EagleEye's predictive analytics solution because of the firm's insurance expertise, advanced technology and ability to rapidly implement a solution that would generate results, said Brooks.
"We are excited to be partnering with Buckeye. Implementing sophisticated predictive analytics can revolutionize a carrier's underwriting capabilities," said Roger Burkhardt (pictured left), President and CEO of EagleEye Analytics.
Buckeye was introduced to EagleEye through Guy Carpenter, a global leader in providing risk and reinsurance intermediary services and a member of Marsh & McLennan Companies. In 2011 Guy Carpenter and EagleEye formed an alliance, exclusive within the reinsurance industry, to help insurers optimize their risk selection and pricing.
EagleEye's predictive analytics solution, which is being implemented now, will provide the foundation for the Buckeye's auto initiative planned to start early next year, said Brooks.
About Buckeye Insurance Group
Buckeye Insurance Group began operations on April 30, 1879 as the German Baptist Mutual Fire and Lightning Insurance Company of Miami County, Ohio. For more than 130 years, the company has positioned its stability on the strength of a dedicated staff of independent agents and employees. Buckeye specializes in providing personalized insurance coverage and customer service to rural Midwestern communities in Colorado, Indiana, Kansas, Nebraska, Ohio, and South Dakota. Buckeye products include farm, auto, home, dwelling fire, and umbrella.
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 150 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.