Guidewire Software, which provides cloud software for the insurance industry, said it has acquired EagleEye Analytics, which provides predictive tools for property and casualty insurers.
Terms of the deal weren't disclosed, but the transaction is expected to close soon.
According to Guidewire, a key company in the industry cloud landscape, EagleEye will allow it to build out its data and analytics products.
With EagleEye, soon to be renamed Guidewire Predictive Analytics, the company will offer software to make claims decisions, spot litigation issues and route and assign them. Another service will provide analytics to maximize profitability and offer tools to improve ratemaking, risk selection and underwriting. The goal for the profitability tools is to maximize customer lifetime value and an insurer's portfolio.
EagleEye CEO Wade Bontrager will join Guidewire as a vice president for its predictive analytics products. EagleEye has more than 30 insurance customers with nine of them shared with Guidewire.
The flagship brand for EagleEye is called Talon, software that uses machine learning and algorithms to manage insurance operations.