WTW and Verisk collaborate to boost efficiency, speed, accuracy, and analytical sophistication in commercial insurance pricing
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.
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