We help a broad spectrum of life science companies to mitigate threats and create opportunities across a wide range of risk and human capital issues.
Life science businesses operate in highly regulated and fast developing environments and across geographies.
WTW has the knowledge and dedicated resources to help life science companies navigate this complex risk landscape.
We understand the challenges faced by the industry and have the experience and expertise to enable you to make the best decisions and implement the right solutions to manage your risk and people.
Our investment in technical expertise benefits our clients every day.
Our teams comprise a cross-section of professional backgrounds and credentials, including professionals with backgrounds as scientists, attorneys, risk managers, brokers, underwriters, risk engineers and claims specialists.
Our global footprint and multinational knowledge allows us to anticipate trends and regulations around the world and afford easy access to relevant information about any location in which our clients do business.
There is no substitute for responsiveness, innovation, broking excellence and programme delivery.
Our life sciences insurance expertise
We specialize in services for:
- Pharmaceutical and biotech
- Therapeutic research and development
- Generic and specialty drug manufacturers
- Medical device and digital health companies
- Contract research organizations (CRO)
- Contract manufacturing organizations (CMO)
- Diagnostic laboratories
- Nutraceutical and over-the-counter (OTC) medicines
We have a globally integrated practice with industry specialists in:
- Property and casualty insurance
- Clinical trials
- Claims advocacy
- Management liability
- Risk and loss control
- Cyber risk
- Analytical tools
- Mergers and acquisitions (M&A)
- Intellectual property risk
- Reputational risk
- Product recall
- Compensation advisory
- Employee benefits
We have access to global regulatory and compliance information via our online database to ensure you are up-to-date on the latest developments impacting your life sciences business. This information is provided by country and includes:
- Non-admitted status
- In-country regulations
- Insurance limits
- Professional liability requirements
- Certificate protocols
- Specific information requirements for each country
How we serve our clients
- Before we place any insurance, we work with you to identify and quantify your unique risks to efficiently protect your balance sheet.
- We provide you with the confidence that your insurance programs are created to fit your specific needs. We challenge the status quo and create programs that will evolve with your business. Due to a fast-paced and constantly changing risk environment, we help you anticipate risks and plan mitigation strategies for the next development. We guard the present with an eye on the future, helping you make smarter decisions about risk.
- We offer you a single point of access, aligning specialist teams across every line of coverage. Using a proprietary client portal ensures real-time access to risk information, facilitating efficient, smarter and proactive decision making.
What makes us different
- Most of our life sciences clients do not have a risk manager. This reality has prompted us to build a service model for every client designed to optimize resources while improving outcomes.
- We will provide you with regular in-depth trends and insights on emerging risks impacting the life sciences industry and insurance marketplace to help you implement the right solutions for your organization.
- Our advanced loss modeling capabilities, Connected Risk Intelligence, is an innovative development in risk consulting. It visualizes risk in a single language and framework to empower you to make better risk finance decisions.
- We spend the time evaluating and analyzing your risk exposures to help minimize the total cost of risk so your life sciences organization can make smarter decisions.
- We provide direction and consultation on risk mitigation strategies and improvement opportunities to help enhance your life science business’ performance. We offer a range of solutions to address your risk and people issues.
- Our service team offers access to specialists who are life science experts in different lines of business including: directors’ and officers’ liability, cyber insurance, product liability, supply chain, cargo, assets and risk engineering.
Together, we can help you make smarter decisions about your risk and human capital.
For specialist help discovering smarter ways to manage risk in the life sciences sector, please get in touch with the experts listed at the top of this page.