Is your insurance working for you?
In the complex world of insurance, finding the right balance in your coverage is key. Are you over-insured, under-insured, or just unsure?
Insurance Analytics for Financial Institutions
Are you over insured, under insured or just unsure?
Unlocking insights with Insurance Analytics
Many firms rely on one dimensional benchmarking that either leaves them exposed or wastefully over-insured. Using only traditional methods falls short by not accounting for unique business contexts—our analytics delve deeper.
At WTW, we replace guesswork with science, using our in-house analytics. Insurance Analytics is embedded into our broking services using unique tools to bring precision to your insurance decisions.
Precision tools for informed decisions
We bring a three-dimensional approach to insurance purchasing, with tools designed to empower your decision-making:
Our advanced models simulate potential losses and identify risk exposures tailored to your business composition and experience. This ensures your coverage is optimised, providing maximum protection without unnecessary costs.
Our sophisticated tools link to real-time market data to see how you compare with industry peers. This keeps your comparisons relevant and up-to-date, ensuring you stay competitive.
Our team of Financial Institution specialists offers strategic guidance, aligning recommendations with your budget and objectives for actionable, cost-effective solutions.
We combine our modelling, benchmarking, and broking expertise into a single visual summary of your insurance status. Our custom dashboard features color-coded indicators to highlight strengths and pinpoint vulnerabilities, empowering you to make informed decisions about your coverage.
A WTW success story
A global financial institution had previously reduced its limit to cut costs when its premiums had risen faster than anticipated during the hard market. The client expressed a need to re-evaluate the appropriateness of their insurance structure. To address this, WTW’s insurance analytics was employed, offering a full assessment of their purchasing strategy and suggested a realignment of their coverage. Encouraged by the tool’s recommendation, the client opted to use premium savings offered by the insurers to increase their blended crime/PI limit whilst maintaining their D&O limits. The client found the results clear and easy to interpret, making insurance analytics a key asset in their insurance purchasing strategy.
Navigating your insurance journey with analytics
The insurance analytics roadmap
