Radar Live A new era in real-time pricing delivery has arrived Demand — Market Trends The changing pricing landscape means there are many challenges and opportunities for insurers. Pricing sophistication Global trend for increasing sophistication of risk models, behaviour models and optimisation Data Increasing use of internal and external data Dynamic markets Many markets now require agile monitoring of experience and adjustment of rates Customer focus More companies managing business around the customer Rating engine needs to harness different data sources and be amended to introduce new ones frequently. Rating engine should facilitate evolution of pricing sophistication. Revisions to structures and revised rates need to be taken to market quickly. Prices, management information and the treatment of the customer need to consider wider customer value metrics. Product — Implementation and Rate Delivery Benefits — of Using Radar Live Software and consultancy support all aspects of best practice pricing — now and for the future. Pricing sophistication Operational efficiency Accuracy •Enhanced profitability from sophisticated pricing decision support and optimisation approaches •Can make wider use of data sources •Increased agility of pricing and portfolio management •From MI, to decision, to execution within a day (or hour) •Significant cost reduction through effective, rapid and accurate delivery of rates from conception to production all in one environment • Integrated workflow — audit and security for governance •Significantly reduces risk of errors The Complete Picture Towers Watson offers the complete pricing solution — software, consulting and rate delivery. Analysis and Decision Making Consulting Actuarial and Business Consulting •Effective pricing and underwriting reviews •Analytical projects with knowledge transfer •Outsourced statistical modelling •Secondment support Technology Consulting •Platform review •Technology selection •Application integration and process automation •Radar Live implementation Radar, Emblem, Classifier Analytical and reporting suite Radar Live Real-time calculation delivery Software Pricing Delivery Radar Live allows insurers to capture all the elements of their pricing analysis and implement them directly into the point-of-sale rating engine that integrates with existing IT systems. www.towerswatson.com/radarlive Speed to market Desktop Pricing Suite Radar Live IT System $ ¥
A new era in real-time pricing delivery has arrived. Radar Live allows insurers to capture all the elements of their pricing analysis and implement them directly into the point-of-sale rating engine that integrates with existing IT systems.
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1. Radar Live A new era in real-time pricing delivery has
arrived Demand Market Trends The changing pricing landscape means
there are many challenges and opportunities for insurers. Pricing
sophistication Global trend for increasing sophistication of risk
models, behaviour models and optimisation Data Increasing use of
internal and external data Dynamic markets Many markets now require
agile monitoring of experience and adjustment of rates Customer
focus More companies managing business around the customer Rating
engine needs to harness different data sources and be amended to
introduce new ones frequently. Rating engine should facilitate
evolution of pricing sophistication. Revisions to structures and
revised rates need to be taken to market quickly. Prices,
management information and the treatment of the customer need to
consider wider customer value metrics. Product Implementation and
Rate Delivery Benefits of Using Radar Live Software and consultancy
support all aspects of best practice pricing now and for the
future. Pricing sophistication Operational efficiency Accuracy
Enhanced profitability from sophisticated pricing decision support
and optimisation approaches Can make wider use of data sources
Increased agility of pricing and portfolio management From MI, to
decision, to execution within a day (or hour) Significant cost
reduction through effective, rapid and accurate delivery of rates
from conception to production all in one environment Integrated
workflow audit and security for governance Significantly reduces
risk of errors The Complete Picture Towers Watson offers the
complete pricing solution software, consulting and rate delivery.
Analysis and Decision Making Consulting Actuarial and Business
Consulting Effective pricing and underwriting reviews Analytical
projects with knowledge transfer Outsourced statistical modelling
Secondment support Technology Consulting Platform review Technology
selection Application integration and process automation Radar Live
implementation Radar, Emblem, Classifier Analytical and reporting
suite Radar Live Real-time calculation delivery Software Pricing
Delivery Towers Watson Classifier Towers Watson Radar Live Radar
Live allows insurers to capture all the elements of their pricing
analysis and implement them directly into the point-of-sale rating
engine that integrates with existing IT systems.
www.towerswatson.com/radarlive Speed to market Desktop Pricing
Suite Radar Live IT System $ Towers Watson Emblem Towers Watson
Classier Towers Watson Radar Base Towers Watson Radar Optimiser
Towers Watson Radar Live