WTW (NASDAQ: WTW), a leading global advisory, broking, and solutions company, and Sapiens, a leading global provider of software solutions for the insurance industry, today announced that they will work together to enhance real-time pricing and speed to market for insurers. Sapiens will join WTW’s Insurance Technology Partner Network. The collaboration will deliver an integrated solution comprising Radar Live, WTW’s price delivery and decision engine platform, and the Sapiens Tia Enterprise Solution, built to meet the ever-changing needs of insurers who want to bundle and market services for more efficient customer engagement.
In today’s intensely competitive marketplace, insurers, MGAs, and intermediaries need the ability to rapidly deploy their rates to market, to ensure the accuracy of those rates as well as to optimise their operations. Radar Live’s technology delivers these outcomes, equipping users with system scalability and stability to support the provision of hundreds of millions of quotes per year. Radar Live allows rates, rules, and adjustments to be easily developed and deployed directly to a rating system and executed in real-time.
Backed by 40 years of industry expertise, Sapiens offers a complete insurance platform with pre-integrated, low-code solutions and a cloud-first approach that accelerates customers’ digital transformation. The significant value provided by the combined Sapiens Tia Enterprise and Radar Live solution includes best-practice implementation, improved speed to market and customer service, and reduced operational costs.
Amanda Ingram, Propositions, Alliances & Ecosystem Manager at Sapiens, said: “This latest collaboration will enable Sapiens to integrate its systems with Radar Live, further enhancing our offerings in the industry by providing customers with fast and easy access to a highly sophisticated price optimisation tool. Our customers will enjoy the flexibility to update insurance rates and quotes per need, then rapidly introduce them to end consumers, while enjoying enhanced operational efficiencies.”
Andrew Harley, Senior Director at WTW, said: “We are delighted that Sapiens is joining our Insurance Technology Partner Network. By establishing connectivity with Sapiens, the integrated real-time data analysis and automated processes in Radar Live will reduce the time and resources required to underwrite a policy, allowing insurers to offer policies to their customers in a more efficient and timely manner.”
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