WTW and Verisk collaborate to boost efficiency, speed, accuracy, and analytical sophistication in commercial insurance pricing
WTW (NASDAQ: WTW) has announced a significant enhancement to its Radar analytics deployment solution through a collaboration with Verisk. The new feature integrates Verisk's ISO Electronic Rating Content™ (ISO ERC™), enabling insurance carriers to implement ISO updates in minutes rather than months.
The integration allows insurers to instantly create ISO-based pricing models, analyze the impact of updates on existing portfolios, test proprietary deviations, and deploy rates with minimal error risk. This advancement significantly improves rate-making efficiency and provides insurers with a competitive advantage in responding to market price movements.
WTW (NASDAQ: WTW) ha annunciato un importante miglioramento della sua soluzione di analisi Radar grazie a una collaborazione con Verisk. La nuova funzionalità integra il contenuto di tariffazione elettronica ISO Electronic Rating Content™ (ISO ERC™) di Verisk, permettendo alle compagnie assicurative di applicare gli aggiornamenti ISO in pochi minuti anziché in mesi.
L'integrazione consente agli assicuratori di creare istantaneamente modelli di prezzo basati su ISO, analizzare l'impatto degli aggiornamenti sui portafogli esistenti, testare deviazioni proprietarie e applicare tariffe con un rischio minimo di errore. Questo progresso migliora notevolmente l'efficienza nella definizione delle tariffe e offre agli assicuratori un vantaggio competitivo nella risposta alle variazioni di mercato.
WTW (NASDAQ: WTW) ha anunciado una mejora significativa en su solución de análisis Radar mediante una colaboración con Verisk. La nueva función integra el Contenido de Tarifación Electrónica ISO Electronic Rating Content™ (ISO ERC™) de Verisk, permitiendo a las aseguradoras implementar actualizaciones ISO en minutos en lugar de meses.
La integración permite a las aseguradoras crear modelos de precios basados en ISO al instante, analizar el impacto de las actualizaciones en las carteras existentes, probar desviaciones propias y desplegar tarifas con un riesgo mínimo de error. Este avance mejora considerablemente la eficiencia en la fijación de precios y brinda a las aseguradoras una ventaja competitiva para responder a los movimientos del mercado.
WTW (NASDAQ: WTW)는 Verisk와의 협력을 통해 Radar 분석 배포 솔루션을 크게 향상시켰다고 발표했습니다. 새로운 기능은 Verisk의 ISO 전자 요율 콘텐츠™(ISO ERC™)를 통합하여 보험사가 ISO 업데이트를 몇 달이 아닌 몇 분 만에 적용할 수 있도록 합니다.
이 통합을 통해 보험사는 즉시 ISO 기반 가격 모델을 생성하고, 기존 포트폴리오에 대한 업데이트 영향 분석, 독자적 편차 테스트, 최소 오류 위험으로 요율 배포가 가능합니다. 이 진보는 요율 산정 효율성을 크게 향상시키고 보험사에게 시장 가격 변동에 신속히 대응할 수 있는 경쟁 우위를 제공합니다.
WTW (NASDAQ : WTW) a annoncé une amélioration significative de sa solution d'analyse Radar grâce à une collaboration avec Verisk. La nouvelle fonctionnalité intègre le contenu de tarification électronique ISO Electronic Rating Content™ (ISO ERC™) de Verisk, permettant aux assureurs d'appliquer les mises à jour ISO en quelques minutes au lieu de plusieurs mois.
Cette intégration permet aux assureurs de créer instantanément des modèles de tarification basés sur ISO, d'analyser l'impact des mises à jour sur les portefeuilles existants, de tester des écarts propriétaires et de déployer les tarifs avec un risque d'erreur minimal. Cette avancée améliore considérablement l'efficacité de la tarification et offre aux assureurs un avantage concurrentiel pour réagir aux fluctuations du marché.
WTW (NASDAQ: WTW) hat eine bedeutende Verbesserung seiner Radar-Analysebereitstellungslösung durch eine Zusammenarbeit mit Verisk angekündigt. Die neue Funktion integriert Verisks ISO Electronic Rating Content™ (ISO ERC™), wodurch Versicherer ISO-Updates in Minuten statt Monaten implementieren können.
Die Integration ermöglicht es Versicherern, sofort ISO-basierte Preismodelle zu erstellen, die Auswirkungen von Updates auf bestehende Portfolios zu analysieren, proprietäre Abweichungen zu testen und Tarife mit minimalem Fehlerrisiko einzuführen. Dieser Fortschritt verbessert die Tarifgestaltungseffizienz erheblich und verschafft Versicherern einen Wettbewerbsvorteil bei der Reaktion auf Marktpreisbewegungen.
- Dramatic reduction in ISO update implementation time from months to minutes
- Enhanced ability to analyze portfolio impacts and test pricing scenarios
- Reduced risk of manual errors in rate deployment
- Improved competitive positioning through faster market price adaptability
- None.
Insights
WTW's Radar enhancement with Verisk integration transforms commercial insurance pricing by reducing ISO update implementation from months to minutes.
WTW's new Radar feature integrating Verisk's ISO Electronic Rating Content (ISO ERC) represents a significant technological advancement for commercial insurance carriers. This integration solves a critical industry pain point by transforming what was typically a months-long process of implementing ISO updates into something that can be completed in minutes.
The technical breakthrough here is the ability to instantly create ISO-based pricing models with a single click, giving insurers immediate access to up-to-date filed advisory prospective loss costs, rules, and forms attachment logic. This addresses core operational challenges in commercial insurance pricing:
- Eliminates significant manual work and associated error risks
- Enables rapid portfolio impact analysis when ISO makes changes
- Allows insurers to test proprietary deviations from ISO rates easily
- Dramatically accelerates speed-to-market for rate adjustments
The strategic impact extends beyond mere efficiency. In commercial insurance markets where pricing adequacy can fluctuate rapidly, the ability to implement rate changes quickly creates a meaningful competitive advantage. Carriers using this technology can respond to emerging loss trends or market conditions substantially faster than competitors using traditional approaches.
This development reinforces WTW's position as a leading provider of insurance technology solutions while expanding the reach and utility of Verisk's ISO content. For WTW specifically, this enhancement strengthens their Radar product's value proposition in a highly competitive insurtech marketplace where pricing sophistication and implementation speed are key differentiators.
The innovative approach dramatically reduces the time to utilize ISO updates from months to minutes, providing the capability to add more sophistication easily and giving carriers a powerful competitive edge in adapting to market price movements
NEW YORK, June 30, 2025 (GLOBE NEWSWIRE) -- WTW (NASDAQ: WTW), a leading global advisory, broking, and solutions company, has announced the launch of a ground-breaking feature in Radar, its leading analytics deployment solution. This new feature enables users to adjust to market price movements accurately and in real time by incorporating ISO Electronic Rating Content™ (ISO ERC ™) from Verisk.
Insurers need reliable access to the latest rating information to stay competitive in today’s market and rate policies quickly and accurately. Time constraints can also prohibit carriers from adopting deviations, performing portfolio impact analyses, and deploying complex rating structures.
Radar now allows insurers to seamlessly import Verisk ISO ERC content directly into Radar and instantly create an ISO-based pricing model at the touch of a button. In a matter of minutes, this enables users to begin rating policies with ISO’s up-to-date filed advisory prospective loss costs, rules, and forms attachment logic.
Key benefits include the ability to analyze the impact of new ISO updates on in-force portfolios, scenario test the effects of proprietary deviations and deploy rates to market with minimal risk of manual error. A process that historically could take months can now be completed in minutes, greatly enhancing rate-making efficiency and giving carriers a powerful competitive edge in adapting to market price movements.
Gio Smyth, Managing Director and Americas Regional Leader, Insurance Consulting and Technology at WTW, said: “This new Radar functionality builds significantly on the value already provided by Verisk’s ISO ERC solution. Our innovative approach enables insurers to thoroughly assess the impact of ISO Circular updates, providing them with the confidence they need to adjust their rates swiftly, benefiting both their business and customers. I’m excited to see our clients benefit from our latest Radar development.”
Ron Beiderman, senior vice president of core lines services product at Verisk, said: “Verisk's ISO ERC streamlines the end-to-end rating process by enabling faster, more accurate implementation of ISO content. With seamless integration into Radar’s pricing, analytics and deployment environments, it enhances ratemaking efficiency and helps set insurers apart in such a highly competitive environment. This advancement enables partners to deliver the full value of ISO ERC data through robust and scalable solutions.”
About Radar
Smarter insights. Better results. Delivered faster.
Radar is an end-to-end analytics and model deployment solution. It was built specifically for insurers by insurance experts and continually enhanced through ongoing investment, development, and innovation.
Radar delivers proprietary machine learning algorithms, real-time decision-making, regulatory reporting, and speed and ease of deployment.
Radar is part of WTW’s Insurance Consulting and Technology business, which serves the insurance industry with a powerful combination of advisory services and leading-edge technology. Its mission is to innovate and transform the insurance industry, delivering solutions that help clients better select, finance, and manage risk and capital.
We work with clients of all sizes globally, including most of the world’s leading insurance groups. Over 1,000 client companies use our specialist insurance software on six continents. With over 1,700 colleagues in 35 markets, we continually strive to be a partner and employer of choice in the insurance industry.
About WTW
At WTW (NASDAQ: WTW), we provide data-driven, insight-led solutions in people, risk, and capital. Leveraging the global view and local expertise of our colleagues serving 140 countries and markets, we help organizations sharpen their strategy, enhance organizational resilience, motivate their workforce, and maximize performance.
Working shoulder to shoulder with our clients, we uncover opportunities for sustainable success and provide perspective that moves you.
Learn more at wtwco.com.
About Verisk
Verisk (Nasdaq: VRSK) is a leading strategic data analytics and technology partner to the global insurance industry. It empowers clients to strengthen operating efficiency, improve underwriting and claims outcomes, combat fraud and make informed decisions about global risks, including climate change, extreme events, sustainability and political issues. Through advanced data analytics, software, scientific research and deep industry knowledge, Verisk helps build global resilience for individuals, communities and businesses. With teams across more than 20 countries, Verisk consistently earns certification by Great Place to Work and fosters an inclusive culture where all team members feel they belong. For more, visit Verisk.com and the Verisk Newsroom.
Media Contact
Andrew Collis: +44 7932 725 267 | andrew.collis@wtwco.com
Arnelle Sullivan: +1 (718) 208-0474 | Arnelle.Sullivan@wtwco.com
FAQ
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