WTW and Keylane partner for faster and innovative insurance pricing

Global insurance broker WTW and Keylane, a policy administration system provider in the Netherlands, have partnered to help insurers enhance their real-time pricing and speed to market.

According to the announcement, this collaboration will help to ensure competitive advantage through more effective pricing strategies.

Keylane will join WTW’s Insurance Technology Partner Network, an ecosystem of insurance software houses.

With the integration of Keylane’s Axon, an all-in-one unified core insurance platform, and d WTW’s Radar, an end-to-end rating, analytics, monitoring, and model deployment solution, this collaboration aims to optimise real-time pricing and speed to market for insurance companies and intermediaries.

By generating rates that are instantly available on the Axon platform and accessible through all distribution channels, Radar’s technology facilitates the achievement of these outcomes.

Radar also captures all an insurer’s underlying pricing and relevant underwriting rules to create highly sophisticated pricing algorithms, which are then seamlessly transferred to the Axon platform.

Marc van den Pol, VP Sales and Marketing at Keylane, said: “At Keylane we are always striving to help our customers innovate and react to market pressures as rapidly and effectively as possible.

“This collaboration will further enhance our offerings in the industry by providing customers with fast and easy access to a highly sophisticated price optimisation tool that will help drive profit, customer growth and true market innovation.”

Peter Hoogveld, Benelux P&C Practice Leader, WTW, commented: “We are delighted that Keylane has joined our Insurance Technology Partner Network. Establishing connectivity with Radar allows Keylane’s customers to be far more agile in their response to competitors, giving their pricing teams the ability to change prices in a quick yet controlled way, including adding new pricing factors easily, without the need for a large IT project.”

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