Insurance Consulting and Technology broker Willis Towers Watson has licensed its pricing delivery software Radar Live to Chubb.
Radar Live is designed to integrate across multiple channels and provide commercial insurers with increased pace and agility to generate and benefit from ever more sophisticated insights.
Chubb will be able to leverage advanced analytics and machine learning models, in real time and from a single platform.
Dave Ovenden, Global Pricing and Underwriting Leader, Willis Towers Watson, said, “We are delighted that Chubb has chosen to work with us and implement Radar Live.
“Chubb is recognised for its underwriting excellence and our advanced pricing delivery software will support their focus on responding even more quickly to changing market conditions in an efficient way that delivers an exceptional customer experience.”
According to Willis Towers Watson, new data sources and the accessibility of machine learning algorithms have raised the bar for expected analytics performance and the level of sophistication in automated decision making.
At the same time, customer and distributors’ demand for integrated, online and mobile technologies have grown significantly.
“Our new partnership with Chubb continues our commitment to developing software that is relevant, accessible and affordable, pioneering the delivery of leading-edge technology solutions for commercial insurers in order to thrive in the digital age and meet changing customer needs,” Ovenden added.