Intelligent analytics for a fast-changing commercial insurance market.
Rich analytics at your fingertips
Wherever complex judgement is being used within the insurance value chain, whether that’s underwriting, claims or product management, Radar Workbench gives professionals the tools and insight to make confident decisions quickly.
As commercial insurance moves rapidly on to a more digital footing, where active portfolio management and intelligent underwriting intervention are much more common, Radar Workbench creates a powerful user-customisable platform, with extensive automation capability, where your case underwriters, portfolio managers and pricing experts can collaborate at both case and portfolio level.
Can use the portfolio steering capabilities of the Radar suite to test scenarios and model the impact of portfolio change. This includes testing underwriting rules and price changes, as well as ongoing portfolio assessment and monitoring.
Can build and execute advanced pricing and analytics models in a low code environment for flexibility and agility, and benefit from richer, more timely data all within an environment designed for the business user providing them with greater independence from centralised IT.
Can access contextually rich insight to support their decisions, wrapped in a customisable set of forms from which to easily manage their quotes and renewals. All of this is stored at both portfolio and transactional level in an automatically bound operational data store.
For the wider business, the benefits are streamlined processes, better use of scarce data and underwriting resources and a more granular grip on its portfolio.
Key features
- Advanced pricing techniques
Provides a low code, robust analytical toolkit to allow enhanced methods such as machine learning or sophisticated algorithms to be built and deployed, as well as catering for all speciality pricing methods, with improved sophistication, efficiency and speed in making changes. - Rules engine
Underwriting and operational rules can be built, deployed, monitored and analysed. - Unites pricing and underwriting teams
Makes use of a single operational data store to support better cross-business collaboration - Portfolio management
Enables granular analysis of current performance with scenario based testing prior to implementing the required corrective action. Integrated connectivity to underwriters supports seamless deployment of complex strategies - Underwriter decision support
Improves performance by supporting underwriters to make better informed decisions at pace - Process efficiencies
Overcomes the commonly faced challenge in commercial underwriting of time consuming re key as a result of multiple, fragmented legacy systems - Business insight
Uses standard technologies meaning you can not only unlock the value in your internal data but profit from ever-expanding sources of external data - Business user ownership
Changes are simple to make by the business user in a single environment - Governance
Supports improved governance around business planning, model deployment, ongoing monitoring, auditing and peer review.
Download
| Title | File Type | File Size |
|---|---|---|
| Radar Workbench | .4 MB |
