Willis Towers Watson has announced that Atlanta Group, a personal lines broker that owns Autonet, Carole Nash, and Swinton, has licensed its Radar Live pricing delivery software.
In a statement, Willis said that the move is designed to “transform its pricing capabilities for personal lines products.”
“Radar Live will give the insurance broker improved capability to derive sophisticated insights from valuable data sources and market-leading machine learning models, in real time and from a single platform,” Willis said in a statement.
Ian Donaldson, chief executive officer of Atlanta Group said that collaborating with Willis Towers Watson in order to deliver improved speed to market and best practice implementation for the benefit of customers was a “natural step” for his firm.
“Radar Live is a perfect fit for our business, enabling robust control and governance around our pricing, leading to better customer outcomes while delivering on our commercial aims,” he said. “We very much look forward to further leveraging Willis Towers Watson’s skillset, deep industry expertise, and analytical capabilities to support us as our digital transformation continues.”
Tim Rourke, director, insurance consulting and technology at Willis Towers Watson, said that the announcement also reflected a larger market trend as brokers face intense competitive pressure to increase their sophistication using advanced analytical techniques in setting prices.
“With data and advanced analytics as the frontiers of change, both small and large intermediaries have already licensed Radar as they explore new technologies to help their operations migrate to connected, flexible and agile systems capable of creating competitive advantage and providing greater understanding of the business they write,” he said. “We are delighted Atlanta, a market leader in the UK P&C intermediary space, has chosen to work with us on their transformational journey.”
