WTW has introduced Radar Vision, a new AI-driven performance monitoring tool tailored for insurers, aimed at enhancing underwriting profitability and reducing operational costs.
Radar Vision builds on WTW’s existing Radar insurance rating solution, incorporating artificial intelligence to provide early insights into inflation trends, competitor activity, claims, and customer behavior.
According to WTW, the tool will enable insurers to improve profitability in underwriting, uncover growth opportunities, and streamline cost management.
Pardeep Bassi, Global Proposition Leader for Data Science at WTW, emphasized that Radar Vision helps insurers manage complex predictive models by delivering quicker insights that optimize business performance.
The tool automates previously manual processes and leverages AI to analyze real-time data. This allows insurers to swiftly identify any discrepancies from expected performance and take proactive measures in response to emerging risks and opportunities.
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