ARLINGTON, VA, March 18, 2021 — Willis Towers Watson (NASDAQ: WLTW), a leading global advisory, broking and solutions company, today announced that Pegasystems, a software company, is to become the latest vendor to join Willis Towers Watson’s global Radar Live Collaboration program. The program has been developed so insurers can realize the benefits of faster and smoother integrations with Radar Live, the price delivery and decision engine platform, through an ecosystem of leading insurance software houses and system integrators.
Pega is used by insurers to manage business-critical workflow processes, from customer management to underwriting operations through to claim management. Its application programming interface connectivity helps facilitate easy and rapid integration with Radar Live, which allows insurers to inject sophisticated pricing, rules and decision support models rapidly into the Pega system. Models can be developed, scenario tested and deployed rapidly, thereby reducing costs, reducing decision cycle times, and increasing confidence around pricing and business decisions.
“We are thrilled to collaborate with Willis Towers Watson and Radar Live, a best of breed pricing and rules-based engine,” said Kieran Tarrant, vice president sales, U.K. and Ireland, at Pega. “Pega drives efficiency, maximizes effectiveness, crushes complexity and combines the excellence of Radar Live with Pega, a world-leading case management capability, to deliver quality underwriting outcomes for insurers and their customers.”
“We are delighted that Pega has joined our Radar Live collaboration program,” said Andrew Harley, director at Willis Towers Watson. “With data and advanced analytics as the frontiers of change in the insurance sector, companies must migrate their operations to connected, flexible and agile systems capable of creating competitive advantage. Pega’s international success in driving sales, minimizing expenses, helping improve underwriting consistency and maximizing the customer experience will mean this collaboration will drive significant value to our mutual customers across the world.”
According to Willis Towers Watson, new data sources and the accessibility of machine learning algorithms have raised the bar for expected analytics performance and the level of sophistication in automated decision making. At the same time, consumers’ demand for online and mobile insurance quotes, to compare and contrast multiple quotes, and their expectation of fast claim settlements have driven the need for delivering rates and rules to market quickly and accurately.
Radar Live is point-of-sale insurance rating software that builds on, and completely integrates with, Willis Towers Watson’s analytical software Emblem, Classifier, Radar Base and Radar Optimizer. It harnesses the analysis of this software by directly using insurance pricing models developed by analysts and replicating their results exactly in a calculation engine that interfaces with existing IT administration systems. Learn more about Radar Live.
Willis Towers Watson (NASDAQ: WLTW) 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, optimize 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.
