Tag: WTW

Global Insurance Industry Faces IFRS 17 Costs Estimated at $15B to $20B

P&C underwriting performance improves except Person Lines

The total cost faced by the global insurance industry to implement IFRS 17 is estimated to be US$15-20bn, according to a new worldwide survey by Willis Towers Watson. Kamran Foroughi, Global IFRS 17 Advisory Leader at Willis Towers Watson, said: “This is an extraordinary figure that will naturally lead to many questions from boards and… Continue reading Global Insurance Industry Faces IFRS 17 Costs Estimated at $15B to $20B

Pandemic Accelerates Employer Voluntary Benefit Offerings

EMPLOYEE BENEFITS CONCEPT

The pandemic is driving more employers to offer voluntary benefits, with nearly all employers (94%) expecting these employee-pay-all or unsubsidized benefits to hold great importance in their organizations during the next three years, according to a survey by Willis Towers Watson, a leading global advisory, broking and solutions company. The Emerging Trends in Health Care… Continue reading Pandemic Accelerates Employer Voluntary Benefit Offerings

Arthur J. Gallagher Is in Talks to Buy Aon, Willis Assets

USI acquires Texas agency

Insurance brokerage Arthur J. Gallagher & Co. is in talks to buy a portfolio of assets from Aon Plc and Willis Towers Watson Plc for about $3 billion, according to people familiar with the matter. An agreement could be reached in the coming weeks, said the people, who asked to not be identified because the… Continue reading Arthur J. Gallagher Is in Talks to Buy Aon, Willis Assets

HTC Global Services and WTW Collaborate to Improve Operational Efficiency and Speed to Market for Insurers

business with smart phone connection technology interface Worldwide Generic design,business concept

Willis Towers Watson, a leading global advisory, broking and solutions company, announced today that HTC Global Services has joined its Radar Live Collaboration program. HTC brings market-leading, insurance-focused system integration expertise to the program with extensive knowledge of regional market needs. Radar Live is a price delivery and decision engine platform tailored to both property… Continue reading HTC Global Services and WTW Collaborate to Improve Operational Efficiency and Speed to Market for Insurers

WTW Enhancement of its Coverage Checkup Tool Fuels Lower Prescription Drug Costs for Retirees

Closeup of a prescription form with a pen on a stainless steel background

Willis Towers Watson, a leading global advisory, broking and solutions company, announced today it has enhanced its Coverage Checkup tool, which helped retirees save nearly $345 during the 2020 Medicare open enrollment season. A Princeton University study found that Medicare Part D consumers rarely switch plans and do not consistently shop for price and quality… Continue reading WTW Enhancement of its Coverage Checkup Tool Fuels Lower Prescription Drug Costs for Retirees

Willis Towers Watson and Liberty Specialty Markets Launch Reputational Crisis Solution

Group of businessperson in front of the city.

Willis Towers Watson, a leading global advisory, broking and solutions company, and Liberty Specialty Markets, a leading global provider of specialty and commercial insurance products, today launched Reputational Crisis Insurance – a solution that enables organizations to transfer the financial risk associated with certain types of reputational crises in addition to providing access to a… Continue reading Willis Towers Watson and Liberty Specialty Markets Launch Reputational Crisis Solution

WTW Launches Suite of Cyber Assessments to Help Clients Better Manage Risk

Cyberattacks pose risk to creditworthiness

Willis Towers Watson, a leading global advisory, broking and solutions company, has introduced two new cyber risk assessment services in direct response to the findings from its recent cyber claims insights report. The report found that: Human error (people risk) was the single biggest root-cause of global cyber incidents / claims, and; Ransomware (and the… Continue reading WTW Launches Suite of Cyber Assessments to Help Clients Better Manage Risk

Divestment Activity Poised for Rebound As Companies Look Beyond COVID-19

The value of divestment deals plunged to record lows in the first six months of 2020, according to Willis Towers Watson’s Divestment Performance Monitor (DPM), in partnership with the Business School (formerly Cass). As the COVID-19 pandemic emerged, with corporations confronted by a sudden and dramatic shift in their markets, 63% that sold portions of… Continue reading Divestment Activity Poised for Rebound As Companies Look Beyond COVID-19

WTW: Q2 2020 U.S. Commercial Insurance Prices Rise by Almost 10%

E&S market growth

U.S. commercial insurance prices again grew significantly in the second quarter of 2020, according to Willis Towers Watson’s most recent Commercial Lines Insurance Pricing Survey (CLIPS). The survey compared prices charged on policies underwritten during the second quarter of 2020 to those charged for the same coverage during the same quarter in 2019. The aggregate… Continue reading WTW: Q2 2020 U.S. Commercial Insurance Prices Rise by Almost 10%

Willis Towers Watson Launches Product to Help Clients Create Stimulus through the CARES Act

Willis Towers Watson, a leading global advisory, broking and solutions company, announced it has created the Coronavirus Aid, Relief, and Economic Security (CARES) Act Optimization Program. The program will help companies navigate the CARES Act and realize available stimulus funds before its accompanying benefits expire. Provisions in the CARES Act create an opportunity for companies… Continue reading Willis Towers Watson Launches Product to Help Clients Create Stimulus through the CARES Act