SEATTLE, Nov. 15, 2012 /PRNewswire/ -- Milliman, a premier global consulting and actuarial firm, announced today that it has developed a marketing alliance with We Predict to bring advanced analytics capabilities to clients of both firms.
We Predict has developed an automated warranty data analytics service called Indico. Indico uses actuarial mathematics to perform massive comparative parallel analyses, accelerating issue detection and demonstrating hidden savings. Simple data requirements allow rapid analysis and correlation to in house weather and climate databases.
"We believe that Milliman's dedicated warranty experts represent the absolute best that the actuarial profession has to offer in this space and we are looking forward to building on our excellent relationship," said James Davies, CEO of We Predict. "Their depth of knowledge is exceptional and we are confident that together we offer the best risk management tools available to control product quality, costs, and the service network. There isn't a single manufacturing OEM or supplier who wouldn't benefit from stepping beyond their standard actuarial service with our granular and actionable reporting."
"We look forward to working even more closely with We Predict in the coming months," said Michael Paczolt, consulting actuary in the Chicago office of Milliman. "The Indico software provides a significant value-added benefit to prospective clients, as can be seen by its recognition from IDC as a global leader in predictive warranty analytics. The combination of our actuarial expertise in the warranty and service contract industry with Indico's impressive system creates a cutting-edge package of services to maximize the business intelligence of our clients."
Joining the We Predict system with Milliman's use of qualitative information and actuarial expertise provides additional value to the clients of both firms, at a significantly reduced cost. We Predict's system allows clients to discover emerging issues and provide analyses at a granular or component level while Milliman's actuarial expertise helps clients to improve their financial reporting and risk financing decisions. Together, Milliman and We Predict provide a strong team to help clients use analytics to better understand the costs and risks of their warranty programs.
Milliman is among the world's largest providers of actuarial and related products and services. The firm has consulting practices in healthcare, property & casualty insurance, life insurance and financial services, and employee benefits. Founded in 1947, Milliman is an independent firm with offices in major cities around the globe. For further information, visit www.milliman.com.