Willis Towers Watson behind new Ticker launch
Written by staff reporter
Willis Towers Watson has been working with new insurer Ticker, providing support and advisory ahead of the telematics provider’s early 2019 launch. The start up will use WTW’s Radar pricing software to support pricing and underwriting decision-making.
Director of insurance consulting and technology at Willis Towers Watson, Tim Rourke, said: “In an increasingly competitive market, Radar delivers a simplified and efficient process, giving insurers a sophisticated platform to make quick informed pricing decisions. This capability is critical for start-ups as they adjust their rate in the early stages in order to refine their rate book and meet their growth aspirations.
“By automating repetitive manual tasks, Radar frees up valuable resources to concentrate on applying the latest analytical techniques to all available data, including data produced by Ticker’s innovative new telematics technology. This delivers an unprecedented understanding of risk, greater efficiency and accuracy of rate deployment in a volatile industry where new exposures are constantly emerging.”
Founder and CEO of Ticker, Richard King, added: “It’s incredibly important for us to attract the best and brightest people in the industry. Surprisingly, one of the biggest pulls is the opportunity of working from a blank sheet; what we then need to do is give our people the leading tools in the market. There’s no question that Radar is the best rating engine of its kind.”
Ticker is chaired by Steve Broughton. Investors include Theo Paphitis and former footballer Gary Lineker.