Insurance software provider SSP and Willis Towers Watson will work to optimise real-time pricing and time to market for insurance companies.
Willis Towers Watson’s global Radar Live collaborator programme is set to transform SSP’s ecosystem of policy and claims administration vendors, delivering a faster integration of Radar Live, the price delivery platform.
In today’s intensely competitive marketplace, insurers, MGAs and intermediaries need the ability to deploy their rates rapidly to market, to ensure the accuracy of those rates and to ensure that their operations are highly efficient. Radar Live’s technology delivers these outcomes, equipping users with system scalability and stability to support the provision of hundreds of millions of quotes per year. Radar Live allows rates, rules and adjustments to be easily developed and deployed directly to a rating system, and executed in real time.
SSP is the latest vendor to join the growing Radar Live collaboration programme, giving it improved capability to derive sophisticated insights from valuable data sources and to deploy market-leading machine learning models from a single platform. The programme will also allow SSP customers to benefit from the faster implementations of Radar Live .
Adrian Coupland, Managing Director, Customer and Marketing at SSP, said:
“Our SSP Insurance Platform is a cloud native platform comprising a single suite of modules and components which support our broking, MGA and insurer customers globally. As an open platform, we provide APIs or “connections” to a wider ecosystem so that our customers benefit from a “best of breed” approach. SSP was the first software vendor in the UK to connect its multi-award winning rating, pricing and data enrichment module SSP Intelligent Quotes Hub to WTW Radar Live for the benefit of our mutual customers.”
Andrew Harley, Director, Insurance Consulting and Technology, Willis Towers Watson, said:
“We are delighted that SSP has joined our global Radar Live collaboration programme. With data and advanced analytics as the frontiers of change in the insurance sector, companies must migrate their operations to connected, flexible and agile systems capable of creating competitive advantage and providing a greater understanding of the business they write. SSP’s international success in delivering a flexible open platform for insurers, MGAs and intermediaries will mean this collaboration will drive significant value to our mutual customers across the world.”