Digitalization touches on every aspect of the insurance value chain. New technologies enable innovative business models that enable insurers to remain agile, relevant and competitive through automation and modularization. Ever growing volumes of data are available from which actionable insight may be secured, to improve areas such as underwriting and claims, customer engagement and retention.
Insurers are investing increasing sums in internal innovation and research and development that is designed to deliver digital transformation. However, mergers and acquisitions (M&A) and strategic partnerships are playing a greater role to provide broader offerings more quickly, as time is of the essence, competition is fierce and we are seeing a shift toward marketplaces and ecosystems.
How Willis Towers Watson can help
With so much innovation and disruption, many new technologies, and numerous options, insurers need to be clear about where and how they invest. Our areas of expertise include:
- The application of advanced analytics to deliver actionable insights
- Advice and guidance on InsurTech
- Application of blockchain in insurance
- Use of technology and artificial intelligence in automation
- Process and finance transformation
- Technologies to help connect and integrate legacy systems and automate processes and governance
- Customer centricity
- Merger and acquisition strategy, targeting and implementation
Willis Towers Watson makes the complex simpler with proven, connected insurance technology solutions for insurers to capitalize on InsurTech.
InsurTech
New tools and technologies are transforming how insurance companies think about the future. More and more insurers are embracing InsurTech to improve customer experiences, unlock the potential of advanced analytics, and drive cost savings.
“I don’t think there’s any organization that can combine the depth of insurance domain expertise that we have with our technology capabilities. And on top of that we have an overall scale, which means that we can distribute globally and invest in innovation and development in a way that smaller companies just can’t.”Duncan AndersonGlobal Leader, Insurance Technology
Related Products
- Product
Emblem
Emblem, from Willis Towers Watson’s award-winning Radar suite, helps insurers improve profitability through pricing based on a thorough understanding of risk. - Product
Igloo
Igloo offers P&C insurers of all sizes the analytic power and flexibility to harness the value of capital and broader risk models, helping them to better understand their risks and resulting capital needs. - Product
Radar
Harness the power of data analytics to provide smarter insights and help improve decision making and business outcomes across pricing, underwriting and claims. - Product
ResQ
Industry-leading reserving software that delivers fast, accurate and transparent reserve insights through advanced analytics, automation and proven actuarial methodologies. - Product
RiskAgility® Financial Modeler (FM)
RiskAgility FM is a fast, flexible, actuarial software solution that enables life and health insurers and pension companies to run financial models that accurately reflect their products and company, and to run them across CPU and GPU in ways that are easily adapted to their business processes and regulatory reporting needs.
- Product
Unify
Unify is an enterprise-wide platform for systems integration, automation, and governance, purpose-built to streamline operations and drive success in the insurance industry. - Product
vGrid
vGrid helps insurers scale computing resources as business demands change without the need to self-manage and maintain a complex IT infrastructure.
Featured insight
Quarterly InsurTech Briefing
