Global insurance broker WTW and Dutch policy management system provider Keylane have partnered to help insurers improve real-time pricing and speed to market.
According to the announcement, the partnership will help the company secure a competitive advantage through more effective pricing strategies.
Keylane joins WTW’s insurance technology partner network, an ecosystem of insurance software houses.
By integrating Keylane’s Axon (an all-in-one integrated core insurance platform) and d WTW’s Radar (an end-to-end assessment, analytics, monitoring, and model deployment solution), this collaboration delivers real-time pricing and speed to market.
Radar’s technology facilitates the achievement of these outcomes by generating rates that are instantly available on the Axon platform and accessible through all distribution channels.
Radar also captures all of an insurer’s underlying pricing and associated underwriting rules to create highly sophisticated pricing algorithms that are seamlessly transferred to the Axon platform.
Marc van den Pol, Vice President of Sales and Marketing at Keylane, said: “At Keylane, we always strive to help our customers innovate and respond to market pressures as quickly and effectively as possible.
“This partnership further strengthens our offering in the industry by giving our customers quick and easy access to highly sophisticated price optimization tools that help drive profits, customer growth and true market innovation. Masu.”
Peter Hoogfeldt, Benelux P&C practice leader at WTW, commented: By establishing a connection with Radar, Keylane customers will be much more agile in responding to competitors, allowing pricing teams to easily add new pricing elements without the need for large IT projects. This allows you to change prices quickly and in a controlled manner, such as by ”
