Willis Towers Watson (WTW) has signed a new global agreement with Zurich Insurance Company to roll out its Radar rating and analytics software across Zurich’s worldwide retail lines.
The deal builds on an existing partnership between the two companies, through which WTW had already rolled out Radar across Zurich’s primary retail lines in several individual country markets.
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WTW managing director Georgy Matov said: “We are delighted Zurich has chosen Radar as its global pricing solution, which expands our successful collaboration.
“We will apply our deep industry expertise and insurance technology solutions to help Zurich enhance its pricing and risk management capabilities through advanced functionality across monitoring, analytics, decision-making and deployment.”
Radar is WTW’s end-to-end insurance software platform, spanning pricing, underwriting and claims for both personal and commercial lines insurers.
WTW said the technology would help Zurich sharpen its pricing sophistication and risk selection, offering capabilities such as real-time risk assessment, AI-based analytics, and quicker pricing, portfolio management, claims and underwriting processes.
The company said Radar is used by more than 500 insurers worldwide and forms part of WTW’s Insurance Consulting and Technology business.
Zurich retail transformation group head Soledad Mune added: “WTW brings proven knowledge and reliability, and Radar offers a market-leading pricing platform, global adoption and ease of scaling through a centralised tech infrastructure. We look forward to further capitalising on WTW’s expertise.”
This latest deal follows other recent moves by the group.
In July, Willis, a WTW business, teamed up with embedded insurance infrastructure partner Kayna and construction workforce platform Kwant to launch KwantSure, an embedded digital insurance programme built into Kwant’s workforce management platform.
In June, WTW acquired Redefind, a web-based platform offering insurance products for cryptocurrency and digital assets, as part of its push to strengthen its position in digital finance protection.
