Global re/insurance broker Willis Towers Watson (WTW) has partnered with German InsurTech massUP with the aim of developing new insurance products and solutions.
The strategic partnership, which is hoped will also enable the integration of technological processes and includes joint international distribution, follows existing collaboration efforts between massUp and Willis Re, WTW’s reinsurance broking arm.
German InsurTech pioneer massUp have secured a global partnership with leading global advisory, broking and solutions company Willis Towers Watson.
Now, the massUp SaaS solution will connect to the software suite of WTW’s Insurance Consulting and Technology (ICT) business.
“Linking ICT’s analytics suite and real time decision engine into MassUp’s flexible product platform gives clients the dual benefits of speed to market and the ability to deploy sophisticated pricing and rules in real time,” said David Ovenden, Global Director, Pricing, Product, Claims and underwriting at ICT.
Chief Executive Officer of massUP Fabian Fischer added, “This is a big step for us to internationalize our offering even more.”
“Our insurance products and services are designed for massive roll-out. Partnering with Willis Towers Watson and its global footprint of more than 140 countries we can now distribute them on a broad scale.”
Mark Hvidsten, Deputy Chairman of Willis Re, commented, “massUp provides an excellent supplement to our core client offering. All insurers are looking for new and more efficient ways to distribute and manage their business and together with massUp we can provide a complete solution.”