WTW and Keylane collaborate to drive greater speed and innovation in insurance pricing
Integration of Keylane’s Axon and WTW’s Radar platforms to optimise real-time pricing and speed to market for insurance companies and intermediaries.
LONDON, 9 October 2024 — WTW (NASDAQ: WTW), a leading global advisory, broking, and solutions company, and Keylane, a leading policy administration system provider in the Netherlands, today announced that they will work together to help insurers enhance their real-time pricing and speed to market. This will help to ensure competitive advantage through more effective pricing strategies.
Keylane will join WTW’s Insurance Technology Partner Network, an ecosystem of leading insurance software houses. Both companies are building an accelerator that will expedite the integration of Radar, WTW’s end-to-end rating, analytics, monitoring, and model deployment solution, with Axon, Keylane’s all-in-one unified core insurance platform.
Integrating the Axon and Radar systems will allow insurers to benefit from the ability to rapidly deploy their rates to market, as well as reduced operational costs and improved customer service.
Radar’s technology makes it possible to achieve these outcomes by generating rates that are instantly available on the Axon platform and accessible across all distribution channels. 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, said: “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.”
About Keylane
As a leading European provider of robust, configurable and customer-centric SaaS platforms for the insurance and pension industry, Keylane offers solutions that optimize current business processes, unburden our customers and enable them to be future-proof and flexible. Keylane, headquartered in Utrecht in the Netherlands, provides services to more than 225 customers in the Netherlands, Belgium, Germany, Denmark, Norway and Switzerland.
About Radar
WTW’s Radar is an end-to-end analytics and model deployment solution that transforms insurers’ pricing and underwriting capabilities. With proprietary algorithms and insurance reports, clients use Radar to maximise the value of their data, rapidly build and test sophisticated models, and deploy them directly into their rating process.
About WTW
At WTW (NASDAQ: WTW), we provide data-driven, insight-led solutions in the areas of 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.