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Willis Towers Watson launches latest edition pricing software

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Willis Towers Watson P.L.C. said Tuesday that it has launched an updated version of its radar pricing software, Radar 3.0.

The updated version of the software includes new machine learning models and a new high-performance mode for 64-bit environments, Willis Towers Watson said in a statement. It also allows users to create hyperlinks that allow dashboards to be created with integrated workflow or guidance. The software provides enhanced support for cloud-based platforms through Microsoft Azure, Willis Towers Watson said in the statement.

“We are seeing a clear and widespread focus on pricing sophistication and effective customer management. As part of that, insurers in many markets are now actively incorporating machine learning models in their pricing approaches, not only in backroom analytics but also in the live deployed rates. Radar 3.0 supports all of this,” London-based Duncan Anderson, Willis Towers Watson’s global property/casualty pricing and product management leader, said in the statement.