Re/insurance broker WTW has today announced the launch of the newest version of its Radar software, which features a fully integrated Python capability.
By integrating Python into Radar, insurers using the software will be able to combine its pricing capabilities with other open source software.
WTW says the new version of Radar offers enhanced functionality and user experience, while also addressing security and governance-related concerns that previously prevented insurers from applying open source software more widely.
Serhat Guven, Managing Director at WTW, commented: “Integrating Python with Radar gives insurers fast and easy access to latest developments from the open source world in a reliable, low-risk and well-governed way, supported by more than 20 years of WTW software development experience and insurance expertise.”
“Radar technology has always led the market in its ability to develop and deploy complex rating algorithms with ease and at speed, supported by a transparent and sophisticated governance capability,” Guven added.
“Seamlessly incorporating open source models, such as Python, represents the next step in Radar’s continued evolution and our ongoing commitment to deliver leading-edge pricing techniques that respond to changing market conditions and help insurers improve operational efficiency, speed to market and pricing accuracy.”
