Re/insurance broker Willis Towers Watson has announced that ICE InsureTech has become the latest vendor to join its global Radar Live Collaboration program.
As a Radar Live collaborator, ICE Insuretech will have the ability to deploy Radar Live’s specialist insurance rating and rules solutions.
Willis Towers Watson believes that its Radar Live technology can increase speed to market for insurers, while improving the accuracy of rate developments and supporting operational efficiency.
The software allows prices, rules and adjustments to be developed and deployed directly to a rating system, calculated in real time.
“We are excited to be working with ICE InsureTech to support its customers in their rate deployment and their ability to react to market developments, through the integration of Radar Live,” said Andrew Harley, Director at Willis Towers Watson. “This collaboration will bring significant value to a combined and robust integration.”
ICE InsureTech, part of the Acturis Group, is a specialist software provider for insurers, MGAs, claims administrators and accident management companies.
The firm said that auto insurtech start-up Ticker has become the first ICE customer to connect with Radar Live in a successful implementation that saw Ticker launch in six months.
“Our collaboration with Willis Towers Watson will help our clients to stay innovative in a competitive industry,” said Andrew Passfield, Chief Executive Officer at ICE InsureTech.
“Integrating Radar Live will provide ICE customers with exceptional efficiency and flexibility to have a competitive edge in a changing marketplace,” he added.
On Ticker’s integration, Tim Rourke, Director, Insurance Consulting and Technology, Willis Towers Watson, also commented: “The Ticker implementation of ICE Policy with Radar Live went extremely well. The ease of integration with ICE Policy was incredibly straight-forward and we look forward to working with ICE InsureTech on future integrations.”
