WTW has revealed a new partnership with Bupa UK that will see the health insurer use Radar Live as its lead pricing platform.
The Radar Live platform uses advanced analytical methods and modelling methods to price health insurance premiums in real time with the aim of ensuring greater accuracy and personalisation depending on the customer’s individual needs.
It does this with the goal of ensuring improved pricing, greater accuracy in predicting customer claims, and improved underwriting performance. Another goal of the partnership will be to help increase Bupa’s flexibility and agility in offering new products to customers.
Adrian Baskir, chief commercial actuary at Bupa UK Insurance, said: “At Bupa, our ambition is to be the most customer-centric company in the world, and using the Radar Live platform supports that ambition by offering a more agile, personalised experience for our customers when it comes to pricing.
“This forms part of our transformation strategy, which is is continuing at pace so we can adapt to the changing external environment and transform Bupa to meet changing customer expectations.”
Tim Rourke, UK head of P&C pricing, product, claims and underwriting at WTW, said: “We are delighted Bupa UK has chosen to work with WTW.
“By confirming Radar Live as their pricing platform of choice, Bupa is well placed to enhance its digital capability by offering cutting-edge pricing and underwriting excellence that will help build on their commitment to improved customer engagement and satisfaction.”