Willis Towers Watson (NASDAQ: WLTW) today launches a new customised data and analytics tool, IdentiFly, that improves risk profiling for aerospace insurance. The tool validates underwriting strategy and provides an in-depth audit trail as well as offering anonymised peer group performance analysis.
IdentiFly enables underwriters to analyse their underwriting book through multiple variables including by geography or type of loss. Data gathering supports timely risk mitigation, whilst there are operational cost efficiencies to be gained through the outsourcing of data collection.
John Rooley, CEO, Willis Towers Watson Global Aerospace, said “Aviation insurance rates have fallen continually making this an incredibly challenging market. With increasing pressure upon insurers to make sure they have evaluated risks properly and efficiently, our wealth of analytical data from IdentiFly facilitates insurers’ underwriting decisions, supporting improved underwriting outcomes. We are delighted that our analytics capabilities could lead to improvements in our clients’ insurance policies”
The development of IdentiFly by the Aerospace team highlights an innovative approach to data analytics and the importance of partnership to mitigate risk, for the ultimate benefit of clients and the Aerospace insurance market.
For more information about IdentiFly – please click here
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