The upgrade continues Radar’s evolution and WTW’s commitment to provide insurers with the latest technology to navigate today’s most significant market shifts.
WTW (Willis Towers Watson, NASDAQ: WTW) has announced the launch of the newest version of Radar, its market-leading end-to-end rating and analytics software. Built specifically for the insurance industry, Radar 5 introduces a suite of advanced capabilities, including cutting-edge Generative AI techniques, to provide unprecedented speed and agility for pricing, portfolio management, claims and underwriting.
The Radar upgrade combines enhanced SaaS (Software-as-a-Service) features with new Gen AI applications and underwriting technology, enabling both personal and commercial lines insurers to unlock smarter, data-driven decision-making at scale. Key benefits include real-time insights for more accurate risk assessments, enhanced pricing accuracy, improved speed-to-market and more personalised customer experiences.
Chris Halliday, Senior Director, Insurance Consulting and Technology, WTW, said: “Radar technology has consistently led the market in its ability to develop and deploy rating algorithms with ease and at speed. Radar 5 represents a major step forward, introducing advanced Gen AI capabilities and augmented underwriting technology for early, actionable insights that transform the speed, precision and profitability of pricing, portfolio management, underwriting and claims.”
Radar 5 is backed by 30 years of WTW investment in advanced analytics and global insurance expertise. Scalable to billions of quotes per day, the leading-edge solution offers advanced functionality across analytics, decision-making, monitoring and deployment.
Duncan Anderson, WTW’s Global Leader of Insurance Technology, added: “The Gen AI capability in Radar 5 is the latest of many planned AI releases across our insurance software offerings in the coming months. We are investing heavily in this evolving technology, which is critical to our strategy of delivering advanced, data-driven solutions for risk selection, financing and management.”
The phased release of Radar 5’s new and enhanced capabilities includes:
- Generative AI for automated experience monitoring: Introduction of Gen AI capabilities allowing users to interact with Radar Vision, WTW’s AI-driven performance monitoring tool, using free-form text for data analysis and insights.
- Automated machine-led analytics: Improved machine-led GLM and patented machine learning analytics for expert insight and transparency without the limitations of ‘black box’ models, enabling faster and easier model development from data to deployment.
- Fastest Radar ever: Enhancements mean this is the fastest and most efficient version of Radar yet, providing insurers with improved performance.
- End-to-end SaaS enablement: Enhanced cloud-hosted solution, accessible via a web browser, addressing client demand for cloud solutions.
- Native connections to Databricks and Snowflake: Direct integration with market-leading data platforms, making it easier and faster for data to pass between Radar and these systems, boosting user productivity.
- Analytical Commercial Lines underwriting platform: Introduction of Radar Fusion, an augmented underwriting solution built to simplify, streamline and scale underwriting in a fast-changing commercial insurance market.
