Willis Re to sell web analysis

Willis Re, the broker’s US reinsurance arm has launched of Willis conNextTM – a web-based portfolio management and risk analysis platform helping to quantify exposure, evaluate underwriting effectiveness, and plan for catastrophic events.

“By harnessing the power of our proprietary analytical tools as well as the latest technology and modeling science, Willis conNext provides our clients with new capabilities to evaluate, set and monitor portfolio strategies over varying time spans, while managing to the objectives of their Enterprise Risk Management programs,” said Peter Hearn, CEO, Willis Re.

“Willis conNext is a dynamic, next-generation solution that meets our clients’ increasingly complex requirements for data management and related analytics and helps our clients make sound, fact-based risk-management decisions.”

Key capabilities of Willis conNext include:

• ability to proactively establish optimal strategies, evaluate and compare exposure to risk and measure profitability across a myriad of user-defined categories, including geographic territory, line / class of business, and profit-center / underwriter
• interactive tool that enables clients to pinpoint the lowest level of policy and location data to identify relationships between key risk drivers
• allowing clients to create customised views based on user-defined criteria of their online data without the need to re-query the database or request a new report
• a platform to view concentrations of exposure and correlated loss distribution on a map. Interactive web capabilities allow the user to drill into the map and data to retrieve aggregate or policy-level detail
• user-specified metrics display in charts and maps to provide a multi-dimensional point of view for risk assessment
• create and customize on-line reports and share them across all levels of their organisation

Julie Serakos, head of catastrophe modelling for Willis Re, said, “Willis conNext dramatically improves the ability of Willis Re’s clients to manage risk prudently. Sophisticated data profiles generated by this application become the principal method of communication between Willis Re and its business partners for property and casualty risk management. With its advanced data mining and analysis capabilities, Willis conNext helps our clients save time, act faster and make more profitable decisions by assessing the correlations between exposure and modelled loss results.”