Smarter, faster, predictive analytics and model deployment
Faster predictive analytics and model deployment can transform your commercial lines insurance business, unlocking the agility you need to deliver lower loss ratios, stronger growth, and competitor outperformance.
But finding what you need isn’t always easy.
- Can you be confident what you choose will deliver at scale, no matter how big the data set?
- Can your solution process insurance schedules with tens of thousands of exposures for rating, quickly and accurately?
- And is it capable of connecting pricing and underwriting colleagues so they can make better decisions that drive profitability, faster?
Take control of commercial lines insurance pricing and underwriting
Join market leaders who are already benefitting from Radar for commercial lines insurers.
Expect accelerated growth by choosing a solution that goes beyond predictive analytics software. Radar gives you rating, pricing, portfolio management and predictive analytics in one complete, end-to-end solution. With it’s wide-ranging and flexible capabilities, you can move from reactive to proactive, from lagging behind to leading the market.
Get an insurance-native solution built around you
Backed by WTW’s decades-long investment in commercial pricing, advanced analytics, open source and AI innovation, plus our global network of insurance specialists, Radar gives you insurance-native technology that is tailored to the specific aims of your commercial lines insurance business.
Use Radar’s out-of-the-box features for immediate results or partner with our insurance technology specialists to customize Radar and deliver the outcomes that matter most to your commercial lines business.
We know every commercial lines insurer is unique. That’s why Radar is designed to flex to your needs and integrate seamlessly into your operations.
How can Radar for commercial lines insurers help you outperform?
We’ve designed Radar for commercial lines insurers to streamline every stage of your pricing and underwriting, from analyzing data and deploying rates, to monitoring profitability in real time.
Explore some of the use cases, based on the experiences of commercial lines businesses already benefitting from Radar’s wide-ranging and customizable capabilities:
- Reduce the back and forth between internal stakeholders to get to pricing and underwriting decisions faster with interactive, real-time assessment of the impact of your decisions.
- With Radar, it is no longer necessary to wait days to rework rating calculations to understand the impact on your customers with feedback provided immediately. Radar’s in-depth analyses also means that you can deliver a more robust assessment than simpler summaries allow.
- Rate and price hundreds of exposures within seconds, for even the most complex commercial insurance portfolios with lightning fast processing speeds. Radar supports massive multi-risk policies in real-time at the point of underwriting, for example 50,000 locations processed in Radar Live in under 3 minutes. Radar has been designed and optimized to operate at the scale required by commercial insurers.
- Improve loss ratio and address volatility with advanced predictive analytics including GLMs, GBMs, elastic nets and achieve active portfolio management with real time scenario testing and performance monitoring.
- Achieve seamless efficiency and scalability with Radar’s ecosystem for digitizing your operations with out of the box functionality dashboards and templates and a simple deployment process that allows changes to be live in minutes.
- Build pricing models with ease using Radar’s intuitive tools with built-in governance features
- Adjust and refine key factors such as retention, demand, and pricing sensitivity, testing scenarios in real time to understand the business impact
- Confidently deploy pricing changes to the market faster, turning insights into action while ensuring accuracy and compliance
- Easily create and refine machine learning models with Radar’s automated environment, designed to simplify even the most complex insurance use cases
- Access insurance-specific algorithms such as Generalized Linear Models (GLMs), Gradient Boosting Machines (GBMs), and elastic net models, or integrate custom models using Python for ultimate flexibility
- Quickly test and deploy models to analyze complex data, delivering more accurate risk predictions and actionable insights in less time
- Streamline multi-model workflows with a highly automated process that eliminates inefficiencies and accelerates your path to market-ready solutions
- Benefit from greater transparency and interpretability of data and analytics models
- P&L owners and underwriters can gain deeper insights into the rationale behind actuarial recommendations, allowing for real-time collaboration on pricing models, risk assessments and strategic decisions, leading to more informed and effective outcomes
- Protect your business with Radar’s built-in checks and controls that ensure every model is fully validated and compliant before deployment
- Maintain accountability across teams with an audit trail for every pricing and underwriting decision, creating a transparent record for regulators and stakeholders.
- Reduce risk and improve decision-making with a highly governed environment that lets you deploy models safely and confidently, every time.
How can you maximize open source with Radar for commercial lines insurers?
Radar is integrated with Python, making it easier to visualize your portfolio, check the performance of all underpinning models and identify opportunities and challenges.
We’re constantly developing Radar to make it fast and easy for you to access to the latest developments from the open-source world with the reassurance of robust governance.
Discover more on Radar’s open-source integration
