Willis has launched an AI-enabled risk intelligence platform designed to give organisations a single view of their risk and insurance data.

RiskIQ Nexus brings together policy, premium, loss, exposure and other risk and insurance information from multiple sources, with the aim of improving visibility of insurance programmes, supporting renewal preparation and helping risk managers make more informed decisions.

The platform forms part of WTW’s RiskIQ ecosystem and uses AI to support multi-language document ingestion and allow users to query and analyse information. Willis said it is intended to address the challenges organisations face when critical risk and insurance data is spread across different systems, spreadsheets and other sources.

Users can use the platform to access information on areas including insurance spend, insurer participation, policy details, programme structures and upcoming renewals. Its AI-enabled querying is designed to help users answer questions around their insurance arrangements, total cost of risk, insurer relationships and how programmes have changed since previous renewals.

John Merkovsky, global head of risk & analytics at Willis, said: “Risk managers shouldn't have to spend hours pulling information from spreadsheets, emails and shared drives just to answer key questions about their risk and insurance portfolio. Nexus puts that information at their fingertips, helping clients quickly establish what insurance they have in place, who they buy from, what they spend and how programs are changing over time. Its AI-enabled querying and analysis will help clients move from information to insight and action more quickly, driving better risk decisions and much greater value.”

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