Starr Insurance Companies said it will begin marketing aviation insurance through its Brazil-based subsidiary. Willis Towers Watson is now marketing the latest version of its Radar pricing software.
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Starr Insurance Companies will start selling aviation insurance through its Brazil-based subsidiary.
Starr International Brasil Seguradora S.A., or Starr Brazil, will be marketing the cover.
Starr Brazil will offer a variety of aviation coverages, including: Aircraft Hull & Liability; Spare Parts; Third-Party Legal Liability; Corporate Non-Owned Aircraft Liability; General Liability; RETA Insurance (Mandatory Liability), Hangarkeepers’ Liability; Premises Liability, Airport Liability; Products & Completed Operations Liability.
Fernanda Strachino, aviation specialist underwriter, joined Starr Brazil to head the new aviation division. Fernanda brings more than 16 years’ of experience in the aviation and insurance market, Starr said.
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Willis Towers Watson has started marketing the latest version of its Radar pricing software.
Radar 4.2 provides insurers with “a future-proofed solution designed to achieve agile, sophisticated pricing, and a new level of market responsiveness and analytical sophistication,” Willis Towers Watson asserted in a statement.
A new algorithm delivers major performance improvement – up to six times faster than the previous edition – which saves analysts time in creating deployable models, Willis Towers Watson said.
Built with the latest technology, the new version of the software also allows access to data, calculations or services, such as advanced machine learning models, outside of the Willis Towers Watson pricing suite via a versatile external callout component, said WTW. This capability gives access to a wide range of information insurers may hold externally to their Radar models, reducing the complexity of any integration, while offering a flexible and extendable way to enrich their pricing solution, the company said.
Sources: Starr Insurance Companies, Willis Towers Watson