Willis Towers Watson overview

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 45,000 employees, and is active in more than 140 countries and markets.

Willis Towers Watson design and deliver solutions that manage risk, optimise benefits, cultivate talent, and expand the power of capital to protect and strengthen institutions and individuals. It offers solutions in people, risk and capital across multiple industries, including Aerospace, Construction, Finance Institutions, Healthcare, Insurance, Technology, Transportation and more.

In 2018 Willis Towers Watson announced a global insurtech partnership with Plug and Play InsurTech. The agreement gives Willis Towers Watson access to early stage startups across all of Plug and Play's insurtech platforms around the world. In turn, Willis Towers Watson will become a mentor and collaborator in Plug and Play's ecosystem. The agreement between the two shortly thereafter led to a partnership with Relativity6, a machine learning and AI insurtech.

Willis Towers Watson's history can be traced back to 1828, when Henry Willis began his career as a merchant at the Baltic Exchange in London. He applied for membership of Lloyd's in 1841, and began to broker insurance for the cargoes of commodities he sold on commission. As his business grew, he established himself in marine insurance and founded Henry Willis & Company. The company grew thanks to multiple mergers over the next 100 years plus, and in the 1980s Willis' reinsurance business expanded beyond marine broking. The Willis operations were amalgamated under one name (Willis Group) in 1998, and three years later was listed on the New York Stock Exchange. In 2016, Willis Group merged with Towers Watson to become Willis Towers Watson.

As of July 2018, the company has employed Relativity6's predictive platform to raise customer retention and win-back rates. The following month, Willis Towers Watson launched Captive Quantified, a digital tool designed to help organisations analyse the financial feasibility and future profitability of their captive insurance strategies.

In 2019 Willis Towers Watson launched its collaboration programme, Radar Live Collaboration, which enables Willis Towers Watson to create an ecosystem of policy and claims administration vendors, and support integration of its price delivery software Radar Live. Tia Technology was the first insurance technology provider to join.

In May 2019 it was announced that Willis Towers Watson had entered into an exclusive deal with Microsoft to develop the potential of quantum computing for its risk management and insurance clients within the financial services, insurance and investment space.

The reinsurance broker also partnered with German InsurTech massUP in 2019, in order to deliver new insurance products and solutions. As part of the partnership, massUP will integrate its SaaS solution with the software suite of WTW's Insurance Consulting and Technology (ICT) business. Later that year, Willis entered into a strategic partnership with UK-based insurtech firm Concirrus which will see them join Concirrus' collaborative community, Power20, to leverage IoT-based data that improves their specialty re-insurance products.

Last, it embarked on two initiatives: firstly, the WTW Strategic Ventures, an initiative aimed at creating strategic growth opportunities by investing in emerging digital and technology-enabled businesses across insurance, risk and human capital. Secondly, a Growth Board to increase the company's organic innovation efforts by supporting early-stage ideas that have the potential to create new markets, customer channels and business models.

In January 2020 WTW partnered with eBaoTech to integrate WTW's rating engine, Radar Live, with eBaoTech's middle office platform, InsureMO.

In March 2020 it was revealed that Aon Plc had agreed to purchase Willis Towers Watson in a transaction believed to be worth around $30bn - making it the insurance industry's biggest ever deal. The all-stock transaction combines the second and third largest brokers in the world. Case and CFO Christa Davies will lead the combined company.

Map showing the location of Willis Towers Watson

London, United Kingdom

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Key people

Adam Garrard Head of International Business
Gregg Disdale Head of Alternative Credit
Anna C. Catalano Board of Director
Carl Hess Co-head, North America
George Zarkadakis Digital Lead
Dominic Casserley Board of Director
Jagdev Kenth Director of Risk & Regulatory Strategy
Nick Hopkins Team Member
Anne Donovan Bodnar Head of HR
Wilhelm Zeller Board of Director
Neeraj Sahni Senior Vice President, Cyber Risk
Paul Thomas Board of Director
Jaymin Patel Board of Director
Netsai Mangwende Head of Finance for Great Britain
James F. McCann Board of Director
Ped Phrompechrut Portfolio Manager, Private Markets
Duncan Anderson Global Leader, Insurance Technology
Andrew Brown Head of Private Equity Research
Allan Morris Board of Directors
Alasdair Wood Director
David Shalders Lead of Operations and Technology
Gene Wickes Exchange Solutions Leader
Paul Morris Head of Western Europe
Tim Wright Leads Corporate Risk and Broking
Julie Gebauer Head of Human Capital & Benefits
Jeffrey Ubben Board of Director
Linda Rabbitt Board of Director
Brady Jensen Head of Global Human Resource Services
Brendan O’Neill Board of Director
Magdalena Ramada Sarasola Senior Economist
Wendy Lane Board of Director
Ravin Jesuthasan Managing Director
Rafal Walkiewicz Chief Executive Officer, Willis Towers Watson Securities
Matt Furman General Counsel
Nicolas Aubert Head of Great Britain, CEO of Willis Ltd
Chris Keys Director, HR Software
John Haley CEO
Benjamin Lim Jun Hao Actuarial Analyst in Singapore
Michael Burwell CFO
Joao Torres Barreiro Chief Privacy Officer
Victor Ganzi Chairman
Cyrille de Montgolfier Director General - Gras Savoye