Financial advisory and broking solutions company Willis Towers Watson announced a partnership with data analytics company Polecat Intelligence Ltd. The partnership aims to develop insurance & risk management solutions to help organisations/clients respond to the rapidly changing and complex challenges they face.
Polecat’s Artificial Intelligence and Machine Learning will support Willis Towers Watson in areas such as life sciences, reputational and product recall risk as well as D&O. Real-time risk analysis from unstructured data, for example, will be a key feature of the collaboration.
Willis hopes to leverage Polecat’s data expertise in helping clients with risk mitigation.
James Lawn, co-CEO of Polecat, said, “Polecat exists to provide foresight for Corporate Boards and Executive Leadership teams to make better decisions on emerging risks and opportunities. Our partnership with Willis Towers Watson is ground-breaking bringing world-class risk transfer together with market-leading Artificial intelligence and Machine Learning to provide real-time risk insights from the world of unstructured data. Corporate Boards and Executive Leadership teams are looking for insurance and technology that enables them to manage and mitigate their emerging risks that impact their business landscape, the global economy and the world around us. In partnership with Willis Towers Watson and Polecat, we can do this.”
Garret Gaughan, Head of Global Markets P&C Hub, Willis Towers Watson, said: “Information and the way that people access it to develop their perception of an organisation or situation has changed radically, for both the private and public sector. Organisations find themselves in a volatile and dangerous reputational environment. The partnership with Polecat enables Willis Towers Watson to offer Clients real-time insight to public opinion through analysis of social media. By working with a partner able to analyse unstructured data in real time we are able to design and implement risk mitigation mechanisms for our Clients.”