Towers Watson launches new P&C pricing decision software

Towers Watson has launched a new software offering for property and casualty pricing and underwriters, available globally.

The new Radar software includes four products, the main offering being Radar Base. It allows for modelling and reporting for a variety of purposes, including portfolio monitoring, competitor rate analysis and business plan development. The tool also allows for “detailed rate setting for individual insurance products, according to the company.”  

The software also includes Radar Optimiser, which can allow users to “address strategic targets, such as profitability, retention and premium volume,” Towers Watson said. Radar Live allows for real-time rate calculations, while Radar Dashoard allows for sharing reports and calculations within an organization, the company added.

The offering also includes a new interface, as well as “faster processing, extended support for diverse policy types, improved data connectivity and scalability, and wider auditing scope,” Towers Watson said.

Towers Watson currently has 900 P&C insurance users for its Rate Assessor and Optimiser software products globally.