Insurance

We continue to innovate to meet the changing needs of insurance companies, pairing deep industry knowledge with scalable technology and global reach. This ensures you have the tools and insight to adapt with confidence, respond to change and sustain long-term growth.

Insurance is central to WTW. On any given day, across the globe, we are:

• Working closely with insurers to develop and place organizational risks in the market
• Helping insurers improve performance and profitably through advice on modeling and analytics, distribution, investment strategy, and talent development and rewards
• Advising insurers on business strategy, including mergers, acquisitions and divestments
• Deploying specialist technologies that enable insurers to manage their businesses more effectively and profitably
• Helping insurers transfer risks in the reinsurance and capital markets

We help insurers connect people, risk and capital to address challenges like rating cycles, new technologies and working methods; changing demographics and buying behaviors; changing regulatory and reporting requirements; and emerging or shifting market demand in classes such as cyber, casualty, life and health.

For insurers looking to enhance human capital, improve financial performance and better understand and manage rapidly changing risks, we can help you meet goals and find opportunities.

Comprehensive risk solutions for insurance companies

At WTW, we understand insurers need strong risk management solutions to address today’s dynamic market. Our insurance company risk management solutions help you identify, assess and mitigate risks while protecting your assets and enhancing operational efficiency. We use advanced analytics and deep industry expertise to help you manage risk and sustainably grow through tailored strategies.

Understand how to navigate risk management challenges for insurance companies

Insurers need strong risk management solutions to address uncertainty and stay competitive. Effective risk management protects assets, builds trust and ensures client safety. Our risk management solutions help insurers identify, assess and mitigate potential risks that could impact your operations and financial stability.

Each risk is compounded by social inflation, natural disasters, AI integration, climate change, evolving regulations and other emerging challenges. These factors require sophisticated risk management strategies to navigate effectively.

Comprehensive and compliant risk management solutions empower insurers to proactively address these challenges, make informed decisions and foster long-term growth.

With WTW, you gain strategies that address today’s challenges, anticipate future trends and support sustainable growth and success in a competitive market.

Cutting-edge risk management solutions

At WTW, we understand insurers’ risk challenges and provide expert solutions to manage them. We use our innovative risk management software and tools to support your organization. We enable insurance companies to navigate challenges with confidence.

• Our user-friendly interfaces empower insurers to easily identify, assess and mitigate risks, improving overall operational efficiency
• Our enterprise risk management solutions combine advanced analytics and data-driven insights. We use big data to deliver actionable intelligence, helping insurers make informed decisions that drive profitability and sustainability
• Our analytics provide real-time visibility into risk exposure, helping insurers anticipate potential threats and respond proactively

Because every insurer is different, we tailor solutions to your needs. Whether you seek better underwriting processes, improved claims management or strategic risk assessment frameworks, we work with you to create custom solutions that fit your goals. Our risk management solutions give you the best tools to mitigate risks and seize opportunities in an ever-changing market.

Insurtech solutions specially designed for insurers

Cutting-edge technologies such as AI, machine learning, blockchain and cloud computing are revolutionizing the insurance industry. We can help insurers tap into these technologies with the tools and expertise to guide your journey.

Our Insurtech solutions help insurers improve customer experiences, reduce costs and unlock new growth opportunities. We’ll partner with you to navigate this complex landscape with proven solutions that address specific insurer challenges and drive measurable results.

Our Insurtech products include:

• Radar: Harness the power of AI-enabled data and analytics to provide smarter insights and help improve decision-making, pricing, underwriting and claims
• Risk Intelligence Quantified: Make faster, better risk and insurance decisions with direct access to our analytics to improve your modeling
• Connected Risk Intelligence: Improve premiums and retain risk more efficiently with custom risk and insurance optimization analytics
• Neuron: Seamlessly trade or sell insurance via our digital insurance platform
• Global Peril Diagnostic: Manage risk, operations, assets and supply chains with our natural catastrophe modeling tools

Human capital solutions for the insurance industry

For insurers, a skilled, engaged and future-ready workforce is essential for strong underwriting, claims, customer service, innovation and resilience amid market volatility, regulatory change and accelerating technology adoption. Human capital challenges are becoming one of the insurance industry’s defining business risks. Automation, AI, new operating models, rising employment costs and competition for specialized talent are reshaping insurers’ workforce needs.

HR leaders play a critical role in helping insurance organizations build the workforce needed for transformation. They must align talent, rewards and operating models with business strategy, risk appetite and customer expectations while supporting the specialized capabilities required across underwriting, actuarial, claims, distribution, technology and corporate functions.

Expert HR advice for insurers

Our experts help insurance human capital teams design talent strategies that support performance, compliance, transformation and resilience. Through our work with local and global carriers, we support organizations across underwriting, actuarial, claims, risk, distribution, technology and corporate functions.

WTW partners with insurers to:

• Align workforce, pay and benefit strategies with profitable growth, risk management, expense discipline and customer service priorities
• Build flexible and inclusive workforce models for corporate, field, claims, call center, distribution and hybrid operations
• Use workforce analytics, labor market intelligence and skills data to identify capability gaps, inform investment decisions and demonstrate the business impact of people programs

Our offerings include:

1. Optimized total rewards: Attracting and retaining dedicated, qualified actuarial, financial and technology talent is critical to success in the insurance industry. We provide the data, insights and strategies you need to understand how your total rewards align with market competitiveness, compete effectively for scarce talent, improve employee resilience and keep your best people. Our services include:
   • Compensation strategy and design
   • Healthcare and wellbeing consulting
   • Retirement and financial resilience benefit strategy
   • Executive compensation reviews
   • Total rewards optimization surveys and analytics
2. Enhanced employee experience: Though pay and benefits are crucial, high-performing insurers recognize that a differentiated employee experience is equally important. We partner with you to design a high-performance employee experience that supports engagement and resilience amid ongoing industry disruption. Our services include:
   • Employee engagement surveys and software to help organizations understand evolving employee needs and sentiment
   • Employee communication strategy and implementation
   • Pay equity and transparency analysis and design
   • An employee experience platform —Embark — that provides timely information at critical moments
3. Efficient benefits operations: Operational efficiency is critical to an insurer’s ability to compete in a challenging climate. We can help you leverage resources and improve outcomes with services such as:
   • Global retirement management
   • Benefits harmonization
   • Merger and acquisition support and solutions
4. Insurance workforce management: As consolidation and automation transform how work gets done, we provide a holistic view of all the skills your organization has today and will need tomorrow. Together, we’ll design a workforce strategy that improves performance, supports quality service and strengthens financial resilience. Our services include:
   • Workforce Analytics Dashboard and workforce management strategy and solutions
   • Career analysis and design, job architecture and job leveling
   • Work transformation and a skills-first approach to work architecture
   • Talent intelligence reports and labor market insights

Capital management for insurers

We help insurers address changing risk exposures, use capital more effectively, and update business, product and risk strategies. Our global risk and capital team includes modeling, reinsurance and asset management experts. We help clients manage downside risk, find upside opportunities and optimize capital.

We also help clients apply a risk budgeting lens to their pension plans, giving them a clearer view of how pension risks interact with enterprise priorities such as capital, earnings, liquidity, investment strategy and business volatility. By quantifying these factors, we help insurers understand which risks to retain, reduce or transfer, and design strategies that manage pension exposures in a way that supports broader business objectives.

Examples of how we help insurance companies

• Balance sheet optimization: We reviewed the appropriateness of a client's capital models as a representation of the risks retained by the business. Our suggested changes to the capital and liability models released approximately $470 million of capital
• Economic capital: We advised a large multinational insurer that achieved an economic capital reduction from its pension plan of around $2.5 billion
• Pension funding: We help insurance companies manage the funded status of their pension plans to help control capital impacts

We help insurers address their changing risk exposures and apply capital more effectively, offering broad-based solutions to insurers seeking to update business and product strategy, adapt risk strategy management and appetite, and adopt innovative risk retention or transfer approaches.