Willis Towers Watson said it launched an updated version of its Radar Software, a product the company said improves commercial lines pricing and underwriting by using the latest technology. W.R. Berkley’s Berkley One continues its expansion, now into the states of Minnesota and Wisconsin.
Willis Towers Watson launched an updated version of its Radar software, which the company bills as harnessing the latest technology to improve commercial lines pricing and underwriting.
The enhanced features of Radar 4.1 include:
- Further integration of Radar Live, Willis Towers Watson’s point-of-sale rating software, into the existing IT systems of commercial lines’ insurers and other entities writing policies with multiple coverages.
- Customizable, visual mapping, which allows Radar’s diagnostics to be overlaid on an OpenStreetMap background. This new capability enhances the understanding of geographic exposure, helping to enrich reporting and improve overall performance by facilitating greater pricing accuracy and more effective management of accumulations of risk.
Managers and case underwriters can visualize their exposures and gain a better understanding of the effects of geography on their portfolio with the use of Radar 4.1’s real-world maps, Willis Towers Watson said.
W.R. Berkley’s Berkley One, a startup insurance provider for modern, sophisticated individuals and families, continues its expansion, now into the states of Minnesota and Wisconsin.
Aligned with select independent agents in these states, Berkley One offers home, automobile, fine art and collectibles, and excess liability products and services Berkley One also adds travel insurance to its product portfolio in Wisconsin and Illinois.
Insurance products and services from Berkley One are now available in Illinois, Colorado, Arizona, Minnesota and Wisconsin.
Sources: Willis Towers Watson, W.R. Berkley