Willis Towers Watson - Radar Live
Type of System
- Data management
- Internal/external reporting
- Rating deployment engine
Type of platform
What are the typical implementation costs?
This varies with the scope of the implementation.
How long does your software take to implement on site?
Times vary greatly depending on the way a client wants to integrate it into their current processes.
Please name companies that use the system/solution
23 out of the 25 world’s largest insurance groups license WTW analytical software.
We value the privacy of our clients and do not in general publish our client’s names.
Planned future enhancements:
Integration with additional Policy Administration Systems.
How does your solution integrate with third-party systems or in-house systems?
Radar and Radar Live work alongside one, or several, policy administration systems (PAS). The widespread adoption of Radar Live is a testament to the benefits it delivers. Most importantly, our clients have achieved a significant return on investment from Radar Live. In many cases, it has redefined the approach they have taken on pricing and underwriting. The typical feedback is that Radar Live has contributed to significant reductions in their combined ratios.
What is the key attribute of your product(s) that differentiates it from your competitors?
We offer a single system for the pricing process, reducing implementation times to minutes for even the most sophisticated rating approaches. This contrasts with PAS, where decision making is separate from implementation.
What trends are you seeing in terms of customer demand?
Customers want fast, efficient rate deployment of complex rating algorithms that do not require the inefficient re-keying of rates.