WTW provides a comprehensive array of services designed specifically for commercial lines insurers in North America. We partner with insurers to enable a future in which data- and analytics-led performance improvements support organizational cohesion, flexibility, agility and granular understanding of risk to facilitate outperformance. With our expert assistance, insurers can deal quickly and efficiently with more routine risks, deploy enhanced expert judgment for more complex risks, and identify and react quickly to market opportunities.
In addition to essential services in reserving, capital modeling, and mergers and acquisitions advisory, some of the areas in which commercial lines insurers benefit by partnering with us include:
Data strategy and readiness assessments
Evaluate and enhance your data capabilities.
Addressing the growing need for robust data strategies that leverage artificial intelligence and advanced analytics, we assess and support insurers with optimizing data usage, which impacts decision making and operational efficiency, and help to ensure competitive advantage.
Technology proofs of concept — actuarial and underwriting solutions
Validate technology innovations in actuarial and underwriting.
WTW’s Radar reduces the time needed to make underwriting and pricing decisions and increases speed to market. Leveraging Radar’s capabilities and WTW’s expertise, we design proof of concept (POC) engagements to help insurers explore how embedding technology in their underwriting and actuarial processes can increase speed, efficiency and accuracy.
Regulatory filing strategy and support
Streamline your regulatory processes.
Launching and updating products in the U.S. market is a labor-intensive and challenging process due to regulatory complexity. We support insurers in strategy development, compliance, and the preparation and positioning of filings, which augments your team’s capacity to bring new products and product updates to market quickly, thereby driving top- and bottom-line results.
Capability benchmark index
Benchmark your current processes and platforms against the market.
Leveraging our capability benchmark index framework, WTW can evaluate how your current state stacks up against competitors and best-in-class approaches and then create a road map to help prioritize and transform your business.
Competitive market assessment
Gain deep market insights for product differentiation.
For existing products, WTW can assess how your pricing, forms and services compare with those of your key competitors. For new market entrants, we can estimate the market size and opportunity, support the build of pricing and forms, and advise you on what you must have to enter the market and what it will take to win.
Our detailed analysis helps insurers understand market dynamics and competitor strategies to refine their market approach, enhancing competitiveness and boosting market share.
Predictive models
Leverage predictive insights for better strategic decisions.
By bringing together our extensive insurance industry experience and our expertise in underwriting, pricing, claims, data science, distribution and technology, we develop and use advanced predictive models for carriers to forecast trends and customer behavior, improving product offerings and business strategies.
Strategic reviews and road maps
Plan your strategic future.
We work with insurers to deliver comprehensive reviews and planning for future strategies, ensuring alignment with industry trends and long-term success.
WTW’s Insurance Consulting and Technology business empowers commercial lines insurers not only to meet the challenges of today but also to innovate and lead in the marketplace. Partner with us to harness the full potential of your business through our expert consulting and advanced technological capabilities.
