Global advisory, broking, and solutions company WTW and Sapiens, a global provider of software solutions for the insurance industry, have announced a collaboration aimed to enhance real-time pricing and speed to market for insurers.
Sapiens will join WTW’s Insurance Technology Partner Network and together will deliver an integrated solution comprising Radar Live, WTW’s price delivery and decision engine platform, and the Sapiens Tia Enterprise Solution, built to meet the ever-changing needs of insurers who want to bundle and market services for more efficient customer engagement.
Radar Live’s technology helps insurers, MGAs, and intermediaries to rapidly deploy their rates to market, to ensure the accuracy of those rates as well as to optimise their operations.
It does this by equipping users with system scalability and stability to support the provision of hundreds of millions of quotes per year. Radar Live also allows rates, rules, and adjustments to be easily developed and deployed directly to a rating system and executed in real-time.
Backed by four decades of industry expertise, Sapiens offers a complete insurance platform with pre-integrated, low-code solutions and a cloud-first approach that accelerates customers’ digital transformation.
According to the announcement, the significant value provided by the combined Sapiens Tia Enterprise and Radar Live solution includes best-practice implementation, improved speed to market and customer service, and reduced operational costs.
Andrew Harley, Senior Director at WTW, commented: “By establishing connectivity with Sapiens, the integrated real-time data analysis and automated processes in Radar Live will reduce the time and resources required to underwrite a policy, allowing insurers to offer policies to their customers in a more efficient and timely manner.”
Amanda Ingram, Propositions, Alliances & Ecosystem Manager at Sapiens, said: “This latest collaboration will enable Sapiens to integrate its systems with Radar Live, further enhancing our offerings in the industry by providing customers with fast and easy access to a highly sophisticated price optimisation tool.
“Our customers will enjoy the flexibility to update insurance rates and quotes per need, then rapidly introduce them to end consumers, while enjoying enhanced operational efficiencies.”
