WTW and Sompo Holdings partner to deploy radar technology globally

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Willis Towers Watson (NASDAQ:WTW [https://seekingalpha.com/symbol/WTW]) has announced a new global partnership [https://seekingalpha.com/pr/20227251-wtw-and-sompo-announce-global-partnership-to-deploy-radar-for-its-non-life-insurance-services] with Sompo Holdings (OTCPK:SMPNY [https://seekingalpha.com/symbol/SMPNY]), a leading Japanese insurance group, to deploy WTW’s Radar technology across Sompo Group.

The agreement, which marks the first global deal for WTW’s Radar technology in Japan, will see the advanced risk analysis and pricing software implemented across the Sompo Group.

Radar is WTW's pricing and underwriting tool that helps insurers use predictive modeling and machine learning easily, with no need for programming skills.

Sompo Direct Insurance, an online auto insurance provider, has already begun using Radar since June to more accurately predict customer risks and reflect them in its insurance premiums.

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