Willis Towers Watson partners with MuleSoft to reduce risk exposure
Broker Willis Towers Watson has teamed up with integration and API platform MuleSoft Technology to accelerate the adoption of Radar Live, its real-time rating solution and decision engine. The partnership will enable insurers to gain a better understanding of pricing, underwriting and claims dynamics while reducing their exposure to risk.
WTW's insurance consulting and technology business has joined the Mulesoft Technology Partner Programme, and released a connector for Radar Live.
The Radar Live connector enables organisations to quickly and easily integrate Willis Towers Watson’s point-of-quote insurance rating and decision engine with data from any system.
The broker said that new data sources and the accessibility of machine learning algorithms have raised the bar for expected analytics performance and the level of sophistication in automated decision-making. At the same time, consumers’ demand for online and mobile insurance quotes, to compare and contrast multiple quotes, and their expectation of fast claims settlements have driven the need for real-time pricing and decision making.
“Radar Live allows insurers to meet these demands head on," said Andrew Harley, senior director, insurance consulting and technology, Willis Towers Watson. "Insurers can quickly gain a deep understanding of pricing, underwriting and claims dynamics while reducing exposure to risk and rapidly deploy simple rules-based models, or advance machine learning algorithms, through a well-governed and managed process.”
Brian Miller, senior vice president of business development, MuleSoft, said: “Digital transformation has universally become a strategic imperative for businesses and integration challenges are often what holds the majority of them back. Technology partner integrations with MuleSoft’s Anypoint Platform simplify connectivity, empower organisations to unlock business capabilities and build a resulting application network. This partnership will further enable our mutual customers to realise speed, agility and innovation at scale by eliminating time spent on complicated integration projects.”
