WTW wins InsuranceERM's actuarial consultancy of the year title for successfully supporting a broad transformation project targeting a broad set of complex challenges.

Partnering with Allianz UK Personal, WTW was presented with a scenario of a siloed approach between key teams. AZP faced a lack of shared vision, fragmented system and manual processes that harmed efficiency, and ultimately, profitability.

WTW's actuarial consulting team, however, supported a stark turnaround, leading to a doubling in annual profitability through a restructured operating model, strengthened pricing and portfolio management and improved risk models.

In the immediate phase of the transformation project, AZP performed 600 pricing and underwriting changes in nine months, while also adopting new risk models and improved price optimisation.

Allianz UK Personal's chief underwriting officer said the project helped to "reset" the business in an impressively short time frame, ultimately helping the insurer make the most of opportunities in challenging market conditions.