Willis Towers Watson (NASDAQ: WLTW), a leading global advisory, broking and solutions company, and Relativity6, Inc., a machine learning and artificial intelligence (AI) insurance-technology company, today announced that Willis Towers Watson has selected the Relativity6 platform to predict and optimise customer retention and win-back.
Brent Lehmann, General Manager Affinity & Commercial Australasia said the partnership with such an innovative technology company will help to ensure Willis Towers Watson remains competitive in the marketplace. “Relativity6’s product offerings are a good fit to accomplish our strategic objectives across the organisation, so we are very excited to partner with them to take full advantage of the data that we have accumulated within our core systems in Australia.”
Alan Ringvald, Chief Executive Officer at Relativity6, commented:
“We are honoured to partner with such a distinguished organization. We believe that our solution will enable Willis Towers Watson to better serve their customers and ultimately drive significant top line revenue growth. We’ve engaged with top-tier insurers in the U.S. and Latin America, and this is a fantastic opportunity to expand our footprint with a truly global insurance broking brand.”
This relationship was born of Willis Towers Watson’s partnership with Plug and Play, the world's largest start-up accelerator and open innovation platform. Lehmann said that the aim of Willis Towers Watson’s participation is to help position the organisation at the forefront of emerging trends and technologies.
As digital transformation disrupts organizations in insurance and just about every other sector, Willis Towers Watson is continuously identifying opportunities with start-ups and other partners to offer forward-looking solutions. The relationship with Plug and Play helps to bring the latest technology and innovation to clients across the globe. Recently, Willis Towers Watson received the Corporate Innovation Award for its significant engagement and start-up mentorship in Plug and Play. Of the partnership between Willis Towers Watson and Relativity6, Ali Safavi, Global Head of Plug and Play Insurtech and Principal at Plug and Play Ventures stated: “we are very excited about what the Relativty6 team is building and we believe the insurance industry has a major need for such solutions. Their partnership with an organization like Willis Towers Watson is a great validation for their mission. ”
Willis Towers Watson (NASDAQ: WLTW) is a leading global advisory, broking and solutions company that helps clients around the world turn risk into a path for growth. With roots dating to 1828, Willis Towers Watson has over 40,000 employees serving more than 140 countries. We design and deliver solutions that manage risk, optimize benefits, cultivate talent, and expand the power of capital to protect and strengthen institutions and individuals. Our unique perspective allows us to see the critical intersections between talent, assets and ideas — the dynamic formula that drives business performance. Together, we unlock potential. Learn more at willistowerswatson.com.
Relativity6 is a software company out of MIT that helps P&C insurance organisations better engage with their customers using machine learning and artificial intelligence technology. Our automated software platform of behavioural listening algorithms analyses various internal and external data sources to find hidden patterns and make predictions about future individual and company purchasing behaviours. The platform optimises win-back, churn detection/prevention, cross/up-sell, and net new acquisition use cases. The predictions and data insights arm today's sales, marketing, and service professionals with the tools they need to better serve their customers. For more information, please visit www.relativity6.com.