Liberty Specialty Markets (LSM) is set to be an early adopter of Neuron, the digital trading platform developed by WTW.
Neuron aims to modernise the placement of specialty risks and link brokers and insurers in real time, streamlining the trading of specialty risks.
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As part of the Liberty Mutual Insurance Group, LSM provides insurance services globally to broker partners and clients.
With the partnership, LSM aims to strengthen its broker and client relationships through “data-driven” solutions.
The collaboration will allow LSM to strengthen its digital capabilities, offering brokers a “flexible” approach to risk trading and supporting customised portfolio underwriting solutions.
It is expected to enhance the “speed, scale and effectiveness of placing follow-line business”.
LSM head of digital strategy Carol Baker said: “We are proud to be accelerating solutions that help shape the future of our industry. We are embracing advanced technology to make the risk placement process fast and frictionless for follow business.
“Our partnership with WTW gives brokers seamless access to our underwriting expertise. This initiative is a positive step towards a more connected market overall, strengthened as additional carriers and brokers join.”
WTW Neuron Global lead Louise Smith OBE stated: “WTW is delighted that LSM will be an early adopter of Neuron. Our collaboration is a significant milestone in our mission to intelligently connect global risks with smart capital and transform digital capabilities across the entire value chain.
“We look forward to continuing to work closely with LSM to unlock significant operational efficiencies by making the process of doing business simpler, faster and more agile using Neuron’s cutting-edge technology and unrivalled market-wide connectivity.”
Earlier this month, WTW launched Radar Vision, an AI-powered performance monitoring tool tailored for insurers. Radar Vision extends the functionality of WTW’s existing analytics and model deployment solution, Radar.
