WTW and Aurora announce joint initiative

WTW has today announced a new engagement with specialist SME insurance provider, Aurora.

The collaboration will see WTW’s Radar Live and Aurora’s digital insurance platform deliver real time commercial quotations directly to SME businesses as well as through intermediaries via an omni-channel distribution mechanism.

Tim Rourke, UK head of P/C pricing, product, claims and underwriting, WTW, said: “The complexity of small commercial insurance means that data and analytics play a critical role to improve efficiency, as well as pricing, underwriting and product relevance. This makes Aurora’s vision to redefine the small commercial market compelling and it is exciting that Radar has been chosen to support their algorithmic underwriting ambitions, while enhancing their pricing capabilities with sophisticated and adaptable real-time pricing for uniquely optimised products.”

Bijal Patel, CTO at Aurora, added: “We have a clear, customer-centric vison for Aurora, underpinned by our pricing, underwriting, claims, data and analytics capabilities. Radar Live will support the implementation of our innovative commercial insurance offering and, as Aurora’s primary analytics engine, it will power our real-time analytics and algorithmic underwriting capabilities.

“Our aim is to change the way commercial insurance is purchased and managed by creating a two-way dialogue throughout the lifecycle of the customer’s business, helping to drive greater operational efficiency, transparency and understanding of customer preferences, while reducing underinsurance.”

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