Guidewire Software, Inc has agreed to buy EagleEye Analytics, a provider of predictive analytics products specifically designed for P&C insurers, the company announced today.
As part of the acquisition, EagleEye’s offerings will be renamed Guidewire Predictive Analytics. The company will now provide two predictive analytics products: Guidewire Predictive Analytics for Claims and Guidewire Predictive Analytics for Profitability, which will address claims management and underwriting needs and support distribution objectives.
“We are excited about how this acquisition will enable us to serve our customers,” said Neil Betteridge, vice president of strategy at Guidewire, in a statement. “Adding advanced Property/Casualty predictive analytics functionality to our Data and Analytics products will enable carriers to make significantly better, faster decisions, leading to better outcomes for insurers and their policyholders.”
EagleEye, headquartered in Columbia, South Carolina, has more than 30 insurance customers in North America and Europe. Nine are also existing Guidewire customers. The transaction is expected to close imminently, the companies said. Financial details of the deal were not disclosed.
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