WTW (NASDAQ:WTW), a leading global advisory, broking, and solutions company, has announced a new collaboration with Guidewire (NYSE:GWRE). This partnership will allow carriers to rapidly integrate WTW and Guidewire's cloud platform enhancing the sophistication and speed-to-market of pricing, rating, and underwriting.

Customers' demand for more innovative insurance solutions has increased significantly in recent years. This trend is driven by an expanding appetite for new products, a competitive environment requiring new modeling techniques and more granular data, and regulators requiring rating accuracy, transparency, and fairness. These pressure points are pushing the capabilities of pricing and underwriting teams to the limit.