WTW has announced the North American launch of Radar Vision, an AI-driven performance monitoring tool custom-built for insurers.
The global insurance industry has been turbulent for a few years, with significant inflation and demographic changes compounded by increasingly competitive and volatile market forces. The rate of change and volatility are unlikely to reduce any time soon. In these changing conditions, the most successful insurers have been those able to understand emerging experiences better and act on changes more quickly than their competitors.
Enhancing and complementing the current capabilities of Radar, WTW’s market-leading insurance rating and analytics solution, Radar Vision’s automated model monitoring leverages AI techniques to generate early, actionable insights relating to inflation, competitor activity, claims, and customer behavior. Key benefits to insurers across both personal and commercial lines include enhanced underwriting profitability, new growth opportunities, and reduced costs.
“Insurers in today’s market deploy and maintain large, expansive predictive model real estates, including increasingly complex machine learning models,” said Laura Doddington, head of personal and commercial lines consulting and technology, North America, at WTW. “Vision cuts through this complexity to deliver automated model monitoring that discovers actionable insights faster, offering a competitive edge and driving business performance. We built Radar Vision specifically for insurers, representing the next milestone in predictive analytics and insurance business management.”
Existing solutions are resource and time-intensive and analyze obsolete, incomplete, and inaccurate data. In contrast, Radar Vision can be used by portfolio managers and underwriting, claims, pricing, and data science teams to automatically complete their calculations and assessments using up-to-date data and bespoke proprietary AI algorithms.
Doddington said, “By automating manual processes and applying AI to uncover previously inaccessible insights, Radar Vision improves efficiency and allows insurers to quickly identify changes in actual versus expected performance.”
Source: WTW
Marsh McLennan Sentrisk clients can now rapidly assess the impact of shifting trade policies
Marsh McLennan announced the launch of a tariff simulator enhancement to its AI-powered supply chain platform Sentrisk to enable clients to quickly assess their exposure to various trade scenarios and make strategic decisions to manage supply chain risks.
Sentrisk‘s advanced technologies, including supply chain mapping AI and geospatial satellite imaging, comprehensively map a client’s supply chain and help them assess risks to various exposures, while optimizing insurance coverage. The new tariff simulator can model changing trade policies by supply chain tier, type of goods, and individual supplier relationships, enabling clients to quantify the impact of various tariff scenarios and immediately manage their supply chain risk.
“In the face of significant changes to global trade policies, organizations must build stronger operational resiliency. That requires them to gain a deep understanding of their supply chains—well beyond direct suppliers—and know what changing trade policies mean for their bottom line,” said Martin South, president and CEO of Marsh. “With Sentrisk and our tariff simulator, clients can confidently quantify exposure to potential tariffs, anticipate price increases from their suppliers, develop proactive supply chain strategies, and manage supplier compliance with evolving regulations.”
According to Marsh McLennan’s survey of senior risk and finance leaders conducted on April 16, 74% said they have limited visibility into their supply chains. However, an analysis of over 120,000 suppliers in the Sentrisk platform found that organizations face significant hidden tariff risk upstream in their supply chain. For example, organizations typically have 150 times more hidden exposures on goods from China than what is currently visible.
This lack of supply chain visibility not only exposes organizations to significant tariff-related risks but also highlights the danger of hidden single-source suppliers. Such suppliers can halt production and severely disrupt operations if they become compromised, or the organization decides to stop purchasing from them due to rising tariff costs. The Sentrisk analysis found that 65% of organizations have at least one hidden bottleneck in their supply chain that provides a good or component critical to their operations.
The company will demonstrate Sentrisk and the tariff simulator at RISKWORLD 2025 in Chicago from May 4 to 7.
Source: Marsh McLennan
Topics Carriers InsurTech Data Driven Artificial Intelligence Tech
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