Towers Watson has announced the release of a new pricing decision support solution. The new platform is designed around its Radar Base solution, which provides a modelling and reporting environment for a broad range of activities, from portfolio monitoring, competitor rate analysis and developing business plans through to detailed rate-setting models for individual insurance products.
Duncan Anderson, global P&C pricing and product management leader for Towers Watson, commented: “Pricing P&C insurance involves ever more agile and sophisticated monitoring, analysis and rate selection. The Radar platform provides a powerful capability that companies can tailor to their current and future needs to implement a best practice approach to pricing and portfolio management.”
Radar includes a new and intuitive interface, faster processing, extended support for diverse policy types, improved data connectivity and scalability, the ability to share reports or other calculations across an organisation using the Radar Dashboard product, wider auditing scope, and greatly enhanced reporting facilities such as a custom dashboard design facility.
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