WTW launches new commercial underwriting tool

Willis Towers Watson has launched new software technology that promises to transform the performance of frontline underwriters.

By harnessing big data, advanced analytics and AI, Radar Workbench will allow underwriters to make better decisions “at pace and with confidence”, the firm says, having been built for commercial insurers by industry professionals who understand the real challenges.

Dave Ovenden (pictured), global head of product, pricing, claims and underwriting consultancy at Willis Towers Watson said: “Commercial products are complex, with underlying exposures making effective technology responses challenging and often expensive. With margins tight and risks increasingly unpredictable, insurers are under pressure to improve performance whilst still operating within historic constraints.

“Radar Workbench has been developed to provide the optimal environment that supports underwriters in making complex decisions at pace and with confidence. The user is supported by contextually relevant insights about the client and risk being underwritten, framed in a modern and intuitive user interface that enables the frictionless flow of data.

"Technology can support complex judgements involved in commercial insurance, but has to work intelligently and fit the organisational culture. This principle underpins Radar Workbench, an ‘out of the box’ revolutionary analytical platform designed to help the role of the insurance professional evolve and meet the industry and customer needs of tomorrow.”

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