Radar Live, from WTW's award-winning Radar suite, enables pricing and rules to be deployed directly to a rating system and calculated in real-time. It facilitates the deployment of a wide range of rating structures, built from an analytics environment that has been developed specifically for the insurance sector.
• Simple to complex rating structures and, optionally, price optimization.
• Delivery of prices, underwriting rules, defaults, endorsements, management information.
• Delivery of quotations in milliseconds and ability to scale to hundreds of millions of quotes a day.
• Ability to store and rate using multiple rating sets.
• Supports multiple and parallel pricing strategies, including champion/challenger, A/B testing, and price testing.
• Provides governed, auditable deployment processes.
• Uses standard technologies for ease of installation and maintenance.
• Allows connectivity for direct, intermediated, and affinity sales.
• Supports SOAP and RESTful Web services running in Linux and Windows environments.
• SaaS offering in Microsoft Azure.
• Highly flexible framework facilitates simple and highly complex pricing methodologies.
• Pricing agility, underpinned by a rapid but governed rate change process, across both personal, commercial, and life products.
• Rapid speed to market.
• Rapid reaction to market developments with significantly shorter decision-to-deployment cycle times.
• Great accuracy of rate deployment, removing key compliance risk.
• Significant benefits to operational efficiency.
• Delivers consistent pricing and underwriting rules across multiple channels.
• Provides the protection of robust audit and governance controls.
• System scalability that can cope with hundreds of millions of quotes per year.