Willis Towers Watson plc $(WTW)$ has unveiled a revolutionary feature in its Radar analytics deployment solution, developed in collaboration with Verisk. This enhancement allows insurers to adjust to market price movements in real-time by incorporating Verisk's ISO Electronic Rating Content™ (ISO ERC ™). The new functionality facilitates a seamless integration of ISO ERC into Radar, enabling insurers to create ISO-based pricing models almost instantaneously. This advancement significantly reduces the time required for rating policy adjustments, which previously took months, and provides a powerful competitive edge by enhancing rate-making efficiency. The collaboration aims to boost accuracy, speed, and analytical sophistication in commercial insurance pricing, benefiting both businesses and their customers.
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