The latest partnership news from WTW and Zurich for you;
WTW (NASDAQ: WTW) has announced a global agreement with Zurich Insurance Company Limited (Zurich) to deploy Radar, WTW’s market-leading end-to-end rating and analytics software, to help improve pricing sophistication and risk selection across the Swiss insurer’s target Retail markets worldwide.
This new global agreement, which follows a rigorous selection process, builds on and significantly expands the two companies’ existing agreement, under which WTW successfully integrated WTW’s Radar technology across its primary Retail lines within a number of country-level markets.
Soledad Mune, Group Head of Retail Transformation, Zurich, said: “Improved pricing sophistication and risk selection are critical to long-term profitability in retail. WTW brings proven knowledge and reliability, and Radar offers a market-leading pricing platform, global adoption and ease of scaling through a centralised tech infrastructure. We look forward to further capitalising on WTW’s expertise.”
Georgy Matov, Managing Director and Zurich Global Relationship Leader, Insurance Consulting and Technology, WTW, said: “We are delighted Zurich has chosen Radar as its global pricing solution, which expands our successful collaboration. We will apply our deep industry expertise and insurance technology solutions to help Zurich enhance its pricing and risk management capabilities through advanced functionality across monitoring, analytics, decision-making and deployment.
“Radar continues to develop at an unprecedented pace, with the latest release including ground-breaking insurance-honed AI portfolio management capabilities.”
Built specifically for the insurance industry, Radar provides a suite of advanced capabilities, helping both personal and commercial lines insurers to unlock smarter, data-driven decision-making at scale. Key benefits include real-time insights for more accurate risk assessments, cutting-edge AI techniques, enhanced pricing accuracy, and unprecedented speed and agility for pricing, portfolio management, claims and underwriting.
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