Willis Towers Watson launches Tech, Media and Telecom Differentiated Broking Solutions

Rhea-AI Summary

Willis Towers Watson (NASDAQ: WLTW) has launched its Tech, Media and Telecom Differentiated Broking Solutions (TMT DBS), expanding its existing offerings. This solution targets clients in various sectors, including electronics, telecom, and software, with revenues ranging from $50 million to $5 billion. The TMT DBS includes comprehensive property and casualty coverage, addressing the evolving risks in the insurance market. Key partnerships with carriers such as Chubb and Travelers aim to enhance coverage options for clients, emphasizing customized, cost-effective solutions.

Positive

• Launch of TMT Differentiated Broking Solutions enhances service offerings.
• Targeting diverse sectors with significant revenue potential ($50 million to $5 billion).
• Partnerships with reputable carriers (Chubb, CNA, Hartford, Sompo, Travelers, Zurich) improve coverage options.

Negative

• None.

ARLINGTON, Va., Nov. 17, 2020 (GLOBE NEWSWIRE) -- Willis Towers Watson (NASDAQ: WLTW), a leading global advisory, broking and solutions company, today announced the launch of its Tech, Media and Telecom Differentiated Broking Solutions (TMT DBS). This solution adds to the roster of existing DBS programs of General Industry DBS, Financial Institutions DBS and Real Estate DBS.

The TMT DBS will serve clients in several industries, including electronics, hardware, semiconductor, internet, data networking, telecom, print media, broadcast and advertising, and software and tech services. The TMT DBS builds on the current Willis Towers Watson TMT Panel for small enterprises and will provide coverage for clients with $50 million to $5 billon in turnover.

Coverage for TMT DBS is available for the property & casualty sector and includes property, general liability, business auto, workers compensation and umbrella insurance.

“The uncertain and rapidly changing insurance market, combined with increasing exposure to risks faced by our clients, requires an insurance risk transfer strategy to effectively navigate these perilous times,” said Joe Peiser, global head of Broking, Willis Towers Watson. “This product, like our other successful DBS offerings, minimizes clients’ exposure and provides customized, cost-effective, efficient solutions. It’s perfect for clients who value insurance partners that fully understand their business.”

“This new DBS offers innovative solutions for clients in the technology industry, while the DBS brand continues to provide value-driven products and services,” said Jim O’Connor, head of Middle Market and Specialty Broking. “We are pleased to partner with the key carriers Chubb, CNA, Hartford, Sompo, Travelers and Zurich to ensure we can continue to help our clients access the best coverage and services the market has to offer.”

Sara Benolken, global head of Tech, Media and Telecom, Willis Towers Watson, adds, “The TMT industry is constantly evolving to meet the challenges from an emerging customer demand. The TMT DBS provides an opportunity for clients to stay ahead of those ever-changing risks and make sure they have the best coverage to protect them.”

Differentiated Broking Solutions will continue to build customized solutions for industries requiring specialization, including construction, health care, the not-for-profit/public sector, education, transportation, energy/utilities and agriculture.

About Willis Towers Watson

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 serving more than 140 countries and markets. We design and deliver solutions that manage risk, optimize benefits, cultivate talent, and expand the power of capital to protect and strengthen institutions and individuals. Our unique perspective allows us to see the critical intersections between talent, assets and ideas — the dynamic formula that drives business performance. Together, we unlock potential. Learn more at willistowerswatson.com.

MEDIA CONTACT

Ileana Feoli: +1 212 309 5504
ileana.feoli@willistowerswatson.com

FAQ

What is the new product launched by WLTW on November 17, 2020?

Willis Towers Watson launched its Tech, Media and Telecom Differentiated Broking Solutions (TMT DBS) on November 17, 2020.

Which industries does the TMT DBS service focus on?

The TMT DBS focuses on industries such as electronics, hardware, telecom, and software.

What is the revenue range for clients served by TMT DBS?

TMT DBS serves clients with revenues ranging from $50 million to $5 billion.

What types of coverage does the TMT DBS include?

The TMT DBS provides coverage for property, general liability, business auto, workers compensation, and umbrella insurance.

Who are the key partners for the TMT DBS?

Key partners for the TMT DBS include Chubb, CNA, Hartford, Sompo, Travelers, and Zurich.