Integration of RDT’s Atlas and Willis Towers Watson’s Radar Live platforms to deliver sophisticated real-time pricing and rapid speed to market for insurance companies and intermediaries.
GLOBAL, Tuesday 15 October, 2019 — Willis Towers Watson today announced that the insurance software house RDT is to become the latest vendor to join its global Radar Live Collaboration programme. The programme has been developed to facilitate faster integrations with Radar Live through an ecosystem of leading insurance software houses.
Joe O’Connor, Sales and Marketing Director at RDT, said: “At RDT we are always striving to help our customers innovate and react to market pressures as rapidly as possible. The collaboration with Radar Live is fully aligned with this vision, and falls beautifully into our program of integration to key, high quality, high value technology partners to build end-to-end ecosystems for our clients.”
Willis Towers Watson’s Radar Live supports a wide range of outputs to be deployed in real time at the point of quote for pricing and underwriting. The price delivery platform has been designed to offer better pricing flexibility and responsiveness to market developments. It also creates material operational efficiencies and reduces the risk of costly rate implementation errors.
RDT’s Atlas platform provides insurers with complete control and flexibility over their products, with the ability to make real-time changes. It delivers market-leading data management and reporting capabilities, allowing insurers to constantly enhance their proposition with significant scalability, and regularly processes more than 50 million quotes a day.
According to the companies, integrating the two systems will allow users to take full advantage of both Atlas and Radar Live, for frequent rate adjustments and the ability to build more complex tariffs. To help clients expedite the delivery of these benefits, both companies will be building a connector that clients can utilise for rapid systems integration.
“We are delighted to be working with RDT and this collaboration will help to ensure our clients achieve the significant value that comes from a combined integration of Radar Live and Atlas, including improved speed to market and best practice implementation,” said Andrew Harley, Director at Willis Towers Watson. “Leveraging Radar Live together with the RDT platform has already proved successful in the UK market, including for a large UK MGA client.”
As a result of this integration, it is possible for Radar Live to generate rates that are instantly available on the Atlas platform and accessible to all relevant users within an insurance business across all distribution channels. Radar Live captures all of the company’s underlying pricing and underwriting rules to create highly sophisticated pricing algorithms, which are then almost instantly transferred to the Atlas platform.
RDT creates some of the UK’s most widely used insurance software. Our technology makes insurance cheaper to sell and manage, and easier to buy. We’ve been developing software systems for insurers since 1991 and in that time have become leaders in the field of insurtech.
Leveraging proven live assets and adding advanced modular components, our overarching platform ATLAS incorporates our entire suite of products. ATLAS is available as a managed service, providing insurers and MGAs with huge flexibility, rapid access to new markets, low cost of entry and full control over their products. ATLAS is comprised of our general insurance solution Landscape, our award-winning insurer-hosted rating platform Equator, our website and smart phone app services Panorama, and our data management and reporting service Horizon. Businesses have the option to make use of the entire suite, or take on individual elements. Learn more at rdt.co.uk.
About Radar Live
Radar Live is point-of-sale insurance rating software that builds on, and completely integrates with, Willis Towers Watson’s analytical software Emblem, Classifier, Radar Base and Radar Optimiser. It harnesses the analysis of this software by directly using insurance pricing models developed by analysts and replicating their results exactly in a calculation engine that interfaces with existing IT administration systems. Click here for more information about Radar Live.
About Insurance Consulting and Technology
Willis Towers Watson’s Insurance Consulting and Technology business has over 1,200 colleagues operating in 35 markets worldwide. It is a leading provider of advice, solutions and software – primarily to the insurance industry. Its consulting services help clients manage risk and capital, improve business performance and create competitive advantage – by focusing on financial and regulatory reporting, enterprise risk and capital management, M&A and corporate restructuring, products, pricing, business management and strategy.
About Willis Towers Watson
Willis Towers Watson (NASDAQ: WLTW) is a leading global advisory, broking and solutions company that helps clients around the world turn risk into a path for growth. With roots dating to 1828, Willis Towers Watson has 45,000 employees serving in more than 140 countries and markets. We design and deliver solutions that manage risk, optimise benefits, cultivate talent, and expand the power of capital to protect and strengthen institutions and individuals. Our unique perspective allows us to see the critical intersections between talent, assets and ideas — the dynamic formula that drives business performance. Together, we unlock potential. Learn more at willistowerswatson.com.
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