1. Radar Live A new era in real-time pricing delivery has arrived Demand Market Trends The changing pricing landscape means there are many challenges and opportunities for insurers. Pricing sophistication Global trend for increasing sophistication of risk models, behaviour models and optimisation Data Increasing use of internal and external data Dynamic markets Many markets now require agile monitoring of experience and adjustment of rates Customer focus More companies managing business around the customer Rating engine needs to harness different data sources and be amended to introduce new ones frequently. Rating engine should facilitate evolution of pricing sophistication. Revisions to structures and revised rates need to be taken to market quickly. Prices, management information and the treatment of the customer need to consider wider customer value metrics. Product Implementation and Rate Delivery Benefits of Using Radar Live Software and consultancy support all aspects of best practice pricing now and for the future. Pricing sophistication Operational efficiency Accuracy Enhanced profitability from sophisticated pricing decision support and optimisation approaches Can make wider use of data sources Increased agility of pricing and portfolio management From MI, to decision, to execution within a day (or hour) Significant cost reduction through effective, rapid and accurate delivery of rates from conception to production all in one environment Integrated workflow audit and security for governance Significantly reduces risk of errors The Complete Picture Towers Watson offers the complete pricing solution software, consulting and rate delivery. Analysis and Decision Making Consulting Actuarial and Business Consulting Effective pricing and underwriting reviews Analytical projects with knowledge transfer Outsourced statistical modelling Secondment support Technology Consulting Platform review Technology selection Application integration and process automation Radar Live implementation Radar, Emblem, Classifier Analytical and reporting suite Radar Live Real-time calculation delivery Software Pricing Delivery Towers Watson Classifier Towers Watson Radar Live Radar Live allows insurers to capture all the elements of their pricing analysis and implement them directly into the point-of-sale rating engine that integrates with existing IT systems. www.towerswatson.com/radarlive Speed to market Desktop Pricing Suite Radar Live IT System $ Towers Watson Emblem Towers Watson Classier Towers Watson Radar Base Towers Watson Radar Optimiser Towers Watson Radar Live