Willis Towers Watson unveils new underwriting software

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Willis Towers Watson has announced the launch of Radar Workbench, a new software product that will allow frontline underwriters to make better decisions at pace and with confidence.

Underwriting has been slow to adopt new technologies. Many insurers still rely on manual processes and spreadsheets that are not equipped to deal with the size and complexity of the data they access, Willis Towers Watson said.

“Commercial products are complex, with underlying exposures making effective technology responses challenging and often expensive,” said Dave Ovenden (pictured), global head of product, pricing, claims and underwriting consultancy, Willis Towers Watson. “With margins tight and

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Philippine regulator revamps catastrophe cover pricing

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The Philippines’ Insurance Commission (IC) has ordered P&C insurers under its jurisdiction to implement a new pricing structure for catastrophe risk policies, effective April 2022.

In a circular by IC chief Dennis Funa, all non-life insurers must adopt new catastrophe insurance premium rates and help establish the Philippine Catastrophe Insurance Facility (PCIF), BusinessWorld reported

The regulator will also hold a consultation with the sector to draw up the new premium rates. Companies are invited to nominate representatives for the PCIF’s technical working group. This group will help devise the structure, governance and other concerns and details of the facility.

With

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Manulife intensifies regional advisor development programme

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The facility provides recruits with the training and support needed to become a better insurance advisor through online learning and end-to-end career development journeys, rather than relying on one-off classroom training sessions, the insurer added.

Aside from training financial advisors, MBA also conducts practical workshops for both advisors and bancassurance partners, in a move to strengthen insurer-bank relationships in the region. Manulife has 10 exclusive bank partners in Asia, providing access to over 30 million customers.

“The establishment of Manulife Business Academy demonstrates our continuing commitment to digitise, grow and develop our agency force, which is a backbone of our

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Unemployment Claims Rise Anew In Newest Sign Of Economic Misery

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