Willis Towers Watson Radar is a platform of software products for Property & Casualty (P&C) insurer pricing teams, including actuaries and underwriters. These products provide powerful management information to support portfolio monitoring and rate setting. Further products are available that perform price optimization and optionally integrate with rating systems to deliver real-time processing capability.
Built with the latest technology, Radar continues the evolution of Willis Towers Watson's market-leading Rate Assessor and Optimiser software products. Many of the world's leading insurers use these products to develop and refine pricing strategies, improve competitive positioning and maximize profit and market share.
What Radar can do for you
- Provide flexible management information
- Enable informed pricing strategy development underpinned by robust analysis of alternatives
- Model the impact of potential pricing decisions on volume, profitability and other performance metrics
- Highlight weaknesses and cross-subsidies in current pricing structures
- Reduce the risk of pricing anti-selection
- Allow sophisticated competitor monitoring and analysis
- Enable sophisticated demand-based price modeling founded on real world, practical business constraints
- Support real-time decision making
- Align the pricing and marketing functions through common value metrics and behavioral models
- Deliver data and graphic-rich management information that is fully customizable
Radar Base is the core product in the platform. It provides powerful management information that you can use to develop business plans and summarize results of risk modeling and competitor analysis. With Radar Base, you can test the effectiveness of new prices through scenario modeling, extracting maximum value from your predictive models to help make successful business decisions. And it can provide detailed rate-setting models for individual insurance products.
Radar Dashboard allows the interactive reports built in Radar Base to be easily used across an organization. These reports include the full interactivity and analysis available within the Radar Base reporting environment.
Radar Optimiser extends Radar Base functionality with sophisticated price optimization capabilities.
Radar Live is an extension to traditional rating engines. It allows price adjustments developed in Radar Base to be deployed directly to a rating system to be calculated in real-time.