WTW, a global advisory, broking, and solutions company, has announced a new partnership with Guidewire, a provider of software solutions for the insurance industry.
This collaboration will enable carriers to quickly integrate WTW and Guidewire’s cloud platforms, enhancing the sophistication and speed-to-market of pricing, rating, and underwriting.
Will Murphy, Vice President, Global Technology Alliances at Guidewire, commented: “We’re excited to welcome WTW as a new technology solution partner and look forward to their contribution to the Guidewire Marketplace. The combination of PolicyCenter with WTW’s Radar analytics solution will enable insurers to realise quicker and more accurate underwriting and pricing performance.”
In recent years, customer demand for innovative insurance solutions has surged. This is driven by the need for new products, competitive pressures for advanced modelling techniques and granular data, and regulatory requirements for rating accuracy, transparency, and fairness. These factors are pushing the limits of pricing and underwriting capabilities.
The partnership will introduce a Ready for Guidewire accelerator, facilitating rapid and repeatable integration between WTW’s Radar analytics software and Guidewire PolicyCenter.
Radar, designed specifically for the insurance sector, delivers analytics for pricing and underwriting, allowing for real-time market deployment. This collaboration will enable carriers to leverage WTW’s machine-learning algorithms, decision-making, regulatory reporting, speed, and performance.
Gio Smyth, Managing Director and Americas Regional Leader, WTW, Insurance Consulting and Technology, said: “I am very excited by the opportunity to work alongside Guidewire to support carriers globally. Collaborating with Guidewire, one of the leading insurance platforms in the market, offers material benefits to our clients.”
“Our Guidewire integration will enhance the operational efficiency of our mutual clients by reducing implementation time and cost, enabling them to maximise the benefits of Radar,” further added Smyth.
