Global consultancy Willis Towers Watson has appointed David Singh and Pardeep Bassi to its insurance advisory wing. The pair join the investment advisory specialist as it seeks to bolster its global leadership team.
In September 2021, Willis Towers Watson, one of the world’s largest HR consulting and insurance brokerage firms, announced a new management team. As the company sought to propel itself into further growth – after a failed merger with Aon – the new team included newcomers CEO Carl Hesswho succeeded John Haley when he retired on January 1, 2022.
Today, as the company seeks to gain further momentum from these changes, it has installed two new department heads. Pardeep Bassi will work to develop the company’s global data science and insurance analytics capabilities, while David Singh will advance the company’s climate analytics and exposure management capabilities.
As a global leader in data science propositions, Bassi will leverage the company’s market-leading data science and analytics software, Emblem and Radar. This will see the department working to develop and deliver cutting-edge data-driven solutions within insurance.
Bassi commented, “I am very excited to join the extremely experienced and talented people at WTW and look forward to collaborating to drive the adoption of machine learning globally. We will turn theory into practice to unlock the enormous potential of machine learning and transform insurance. »
Most recently, he served as Director of Data Science at LV= General Insurance, where he was responsible for creating and implementing the insurer’s advanced analytics and machine learning strategy. ; work across all business functions to identify and implement solutions for new opportunities where machine learning can bring value to the business. Prior to LV= General Insurance, Bassi also spent time at AXA and Domestic & General, where he built and led data science teams and initiatives.
Commenting on the appointment, Charlie Kefford, Global Product Leader, P&C Insurance Technology, at Willis Towers Watson, said, “WTW is a market leader in insurance analytics with decades of experience extracting insights from from data to support customer decision-making. We continue to invest to ensure that our data science capabilities remain at the forefront of market practice. I am thrilled that Pardeep has joined our team to drive market adoption of AI. He has an exceptional track record in applying innovative techniques to P&C insurance challenges, generating significant value. »
Meanwhile, as Head of Climate Analytics and Exposure Management, David Singh will oversee the delivery of climate analytics capabilities to help insurers understand and manage exposure and related financial risks. to climate change. At the same time, the team will design and implement risk management frameworks and methodologies to help transform businesses and operating models in line with internal and external stakeholder expectations.
Singh said, “I am delighted to join the team at WTW, which has been at the forefront of innovation around understanding and managing climate risk. By leveraging WTW’s unique skills and cutting-edge climate analytics capabilities, we are well positioned to help insurers understand and manage their exposure to climate change, transforming their business models to drive innovation in underwriting and product design, delivering significant value and reducing business risk. .”
With over 20 years of modeling and reporting experience across multiple underwriting categories and regulatory regimes, Singh served as Group Head of Exposure and Portfolio Management at global insurer MS Amlin, where he was responsible for the group’s risk aggregation and reporting activities across all of its legal areas. entities. Previously, he also worked for Lloyd’s of London with senior level responsibilities including managing the company’s catastrophe risk appetite, managing multiple regulatory filings to and from the market, and ensuring that management agents exceed Lloyd’s expectations and show management standards.
Adhiraj Maitra, Global Head of ESG and Climate Change, Insurance Advisory and Technology at Willis Towers Watson, said: “David brings an exceptional level of expertise and experience in exposure management. to this new role. Insurers are under increasing pressure to understand and address the growing uncertainty surrounding climate change risks as they seek to evolve the role of exposure management in business.