Willis Towers Watson has partnered with Applied Systems Europe to support real-time pricing.
Willis Towers Watson’s Radar Live partner programme enables insurers and MGAs to develop their rates, underwriting rules and adjustments, and then deploy them directly to the market in real time.
Under the partnership, Applied has expanded their Rating Hub functionality to host and integrate with Radar Live, in a bid to give insurers enhanced access to data and analytics, and a choice of rating products to suit their business and pricing requirements.
Commenting on the partnership, Andrew Harley, senior director at Willis Towers Watson, said: “We are delighted to welcome Applied to the global Radar Live partner programme.
“This latest partnership will enable Applied to provide its insurer partners with a sophisticated price enhancement tool, supporting pricing decisions and delivering accurate rates for the mutual benefit of all stakeholders.”
Applied revealed they are also working with RSA Insurance Ireland, who have connected to Radar Live via the Applied Rating Hub for real-time pricing.
Trevor Lowry, chief underwriting officer, RSA Insurance Ireland, said: “Radar Live via the partnership with Applied gives us an efficient way to analyse our data to support our pricing decisions and deploy them to the market.
“This partnership delivers a significant benefit for brokers and their customers, allowing for more individualised pricing and we look forward to rolling out our Radar Live capability across our intermediated business and beyond.”