Willis Towers Watson (WTW) has signed a new international settlement with Zurich Insurance Company to roll out its Radar ranking and analytics software program across Zurich’s worldwide retail strains.
The deal builds on an present partnership between the two firms, through which WTW had already rolled out Radar across Zurich’s main retail strains in several particular person nation markets.
WTW managing director Georgy Matov said: “We are delighted Zurich has chosen Radar as its international pricing resolution, which expands our profitable collaboration.
“We will apply our deep industry experience and insurance coverage technology options to help Zurich improve its pricing and risk management capabilities through superior performance across monitoring, analytics, decision-making and deployment.”
Radar is WTW’s end-to-end insurance software platform, spanning pricing, underwriting and claims for both personal and commercial lines insurers.
WTW said the technology would help Zurich sharpen its pricing sophistication and risk selection, offering capabilities such as real-time risk assessment, AI-based analytics, and quicker pricing, portfolio management, claims and underwriting processes.
The company said Radar is used by more than 500 insurers worldwide and types half of WTW’s Insurance Consulting and Technology business.
Zurich retail transformation group head Soledad Mune added: “WTW brings confirmed data and reliability, and Radar provides a market-leading pricing platform, international adoption and ease of scaling through a centralised tech infrastructure. We look ahead to further capitalising on WTW’s experience.”
This newest deal follows other current strikes by the group.
In July, Willis, a WTW business, teamed up with embedded insurance coverage infrastructure associate Kayna and construction workforce platform Kwant to launch KwantPositive, an embedded digital insurance coverage programme constructed into Kwant’s workforce management platform.
In June, WTW acquired Redefind, a web-based platform offering insurance coverage merchandise for cryptocurrency and digital property, as half of its push to strengthen its place in digital finance safety.
“WTW expands Zurich deal to deploy Radar software program globally” was initially created and revealed by Life Insurance International, a GlobalData owned model.