Willis Towers Watson’s global Radar Live Collaboration program is set to develop the company’s ecosystem of policy and claims administration vendors, delivering a faster integration of Radar Live, the price delivery platform. ICE InsureTech is the latest vendor to join the program, providing ICE with the ability to deploy Radar Live’s specialist point-of-quote insurance rating and rules solution.
In today’s marketplace, insurers and intermediaries need the functionality for rapid speed to market, accuracy of rate development and significant operational efficiency. Radar Live’s technology delivers these results to insurers, equipping businesses with system scalability that has the stability to support hundreds of millions of quotes per year. The software allows prices, rules and adjustments to be easily developed and deployed directly to a rating system, calculated in real time.
As a Radar Live collaborator, ICE strengthens its integration capability and product offering. ICE customers can benefit from the fast implementation and valuable investment of integrating the rating software. Ticker is the first ICE customer to connect with Radar Live in a successful implementation that saw Ticker launch in six months.
Speaking about Ticker’s integration, Tim Rourke, Director, Insurance Consulting and Technology, Willis Towers Watson, explained: “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.”
Andrew Passfield, Chief Executive Officer at ICE InsureTech said: “Our collaboration with Willis Towers Watson will help our clients to stay innovative in a competitive industry. Integrating Radar Live will provide ICE customers with exceptional efficiency and flexibility to have a competitive edge in a changing marketplace.”
Andrew Harley, Director at Willis Towers Watson, said: “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. This collaboration will bring significant value to a combined and robust integration
About ICE InsureTech
ICE InsureTech, part of the Acturis Group, is a market leading specialist software provider to insurers, MGAs, claims administrators and accident management companies. The ICE products are enterprise-grade modular software solutions for the management and processing of insurance claims, policies, billing and rating, with integrated analytics – comprising ICE Claims, ICE Policy, ICE Billing, ICE Rating, ICE Analytics and ICE Digital.
It is a complete end to end solution that can be implemented in very short timescales – delivering immediate benefits to your business. The ICE solution is fully IoT enabled, covering all lines of business, including connected car/telematics and connected property, across both personal and commercial insurance. For more information, please visit www.iceinsuretech.com.
About Radar Live
Radar Live, Willis Towers Watson’s pricing delivery software, enables a wide range of analytics to be deployed in real time at the point of quote – from traditional rating structures to complex pricing algorithms with sophisticated embedded risk models. The software not only provides enhanced pricing flexibility and responsiveness to market developments, but also creates material operational efficiencies and reduces the risk of costly errors in programming rates in multiple environments.
About Insurance Consulting and Technology
Willis Towers Watson’s Insurance Consulting and Technology business has over 1,200 colleagues operating in 35 markets worldwide. It is a leading provider of advice, solutions and software – primarily to the insurance industry. Its consulting services help clients manage risk and capital, improve business performance and create competitive advantage – by focusing on financial and regulatory reporting, enterprise risk and capital management, M&A and corporate restructuring, products, pricing, business management and strategy.
About Willis Towers Watson
Willis Towers Watson is a leading global advisory, broking and solutions company that helps clients around the world turn risk into a path for growth. With roots dating to 1828, Willis Towers Watson has 45,000 employees serving in more than 140 countries and markets. We design and deliver solutions that manage risk, optimise benefits, cultivate talent, and expand the power of capital to protect and strengthen institutions and individuals. Our unique perspective allows us to see the critical intersections between talent, assets and ideas — the dynamic formula that drives business performance. Together, we unlock potential.