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Product, Pricing, Claims and Underwriting

Artificial intelligence, data and advanced digital technologies are having a seismic impact on all aspects of the insurance industry, from distribution to underwriting and from pricing to claims.

While in the past, pricing, underwriting and claims have operated in silos, these functions are becoming increasingly interconnected as organisations look for ways to streamline operational processes and maximize returns by reducing frictional costs across the insurance value chain.

Our goal is to help organisations build the practical capabilities to react quickly to volatility, to establish pace and agility in decision making, and to help them navigate a course to evolve, adapt and deliver value in the face of change.

Such a complex challenge requires an end-to-end approach that looks at pricing, claims, underwriting and operations, not only in isolation, but as an integrated and cohesive set of functions.

Why Willis Towers Watson?

We are the trusted advisor to the world’s largest insurers and the market’s leading pricing consultancy, with an exclusive insurance domain focus. We offer a combination of leading-edge technology solutions and a strong software heritage that is underpinned by powerful analytical capabilities.

This enables us to design and implement cutting-edge solutions to meet the product, pricing, claims and underwriting challenges you face, with solutions including:

  • Independent reviews of pricing and underwriting approach, pricing models, governance or rates
  • Development of end-to-end underwriting, pricing and claims solutions
  • Introducing smart analytics and intelligent automation to enable active portfolio management
  • Wrapping existing underwriting platforms and policy administration systems in new functionality as an alternative to a complete legacy replacement
  • On-demand pricing expertise and resources
  • Outsourced pricing function
  • Strategic claims management
  • Claims platform optimization
  • Claims benchmarking
Advanced analytics and the future

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