British insurance broker Willis Towers Watson (WTW) has formed a global partnership with software provider CodeEast to offer a new digital solution.
The solution, which leverages WTW’s Radar Live with CodeEast’s ONEview digital insurance platform, is designed for insurance companies and managing general agents.
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It is aimed at maximising profit via real-time risk assessment and reducing operational costs by deploying insurance product distribution technology.
CodeEast’s ONEview Digital Insurance Platform leverages technology to automate complex processes in sales, administration and distribution of insurance cover.
WTW’s Radar Live, a price delivery and decision engine platform, is used by ONEview for real-time pricing.
Algorithms can be injected into ONEview via Radar Live to get quotes.
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By GlobalDataWTW insurance consulting and technology senior director Andrew Harley said: “We are delighted to announce that CodeEast is a global partner within Willis Towers Watson’s Radar Live partner programme.
“We are very confident the combination of the ONEview and Radar Live systems will help expedite the important journey our respective clients may have towards digital excellence”.
CodeEast chief commercial officer Aidan Brogan said: “CodeEast has customers in the USA, UK and Ireland, and we look forward to expanding our market presence with this partnership.
“The challenge for insurance companies is to compete in this new world of high staff costs, distribution overheads and ever-growing volumes of data needed to assess risk. Ultimately, this partnership is about giving insurance companies the best digital tools and services to win in this fast-changing world.”
