Corporate Risk and Broking North America launches innovative new approach to industry specialization based on extensive client input
NEW YORK, Dec. 19, 2022 (GLOBE NEWSWIRE) -- WTW (Willis Towers Watson, Nasdaq: WTW), a leading global advisory, broking, and solutions company, today announced that its North American Corporate Risk and Broking (CRB) business has launched a new strategy which enhances its client proposition through aligning the entire value-chain of internal resources through industry specialization.
The new strategy brings together all WTW’s North American Corporate Risk and Broking capabilities, client services and industry specialist knowledge through a newly integrated approach to industries. Aligning WTW resources with specialist industries to operate as stand-alone businesses within North America, while remaining fully connected to CRB’s global expertise, this innovative client model launches with an initial twelve specific industries. The strategy represents a significant enhancement of the company’s long standing global industry specialization strategy.
Michael Chang, Head of Corporate Risk and Broking, North America, WTW, commented, “Having listened closely to the needs of our clients, we are thrilled to launch this enhanced industry specialization approach in North America. Industry specialization is nothing new, but the traditional broking industry approach is outdated for this market. This new model, aligning all WTW’s North American resources through an industry lens built around individual client risk profiles and needs, including product specialization, data, analytics, broking, claims advocacy, service, risk control, technology and innovation, provides a truly unique client proposition. Every client deserves specialization - whatever their size, location, or industry, they will benefit from our specialist knowledge.”
While the client’s industry sector will be the primary organizing principle, the specialization model has two additional pillars that will inform our client value proposition, including insurance solutions and client segment specialists. These specialty teams, including our Property & Casualty, Financial & Professional and Surety lines of business, will both be imbedded within WTW’s industries and remain available to all clients. Additionally, distinct client management teams with deep experience advising clients in the Middle Market, Large and Fortune 1000 segments will continue to serve clients both within and outside selected industries.
Adam Garrard, Global Head of Risk and Broking, WTW, added, “WTW has a long and proud history of providing our clients with industry specialist support. Today’s announcement is an evolution of that support to integrate the full value-chain of WTW’s North American capabilities through an industry focus, with Corporate Risk and Broking North America uniquely positioned to deliver this new and improved approach. The new industry leaders will work seamlessly with all the specialist and talented teams across Corporate Risk and Broking, both within North America and globally to ensure our clients consistently receive the very best of One WTW.”
The twelve industry vertical specializations are:
|Aerospace||Public Sector & Education|
|Construction||Real Estate, Hospitality & Leisure|
|Financial Institutions & Professional Services||Retail & Distribution|
|Healthcare & Life Sciences||Transaction Risk & Advisory Solutions|
|Marine||Technology & Telecommunications|
|Natural Resources, Chemicals & Environmental Services||Transportation & Logistics|
At WTW (NASDAQ: WTW), we provide data-driven, insight-led solutions in the areas of people, risk and capital. Leveraging the global view and local expertise of our colleagues serving 140 countries and markets, we help organizations sharpen their strategy, enhance organizational resilience, motivate their workforce and maximize performance.
Working shoulder to shoulder with our clients, we uncover opportunities for sustainable success—and provide perspective that moves you. Learn more at wtwco.com.
Douglas Menelly: +1 516 972 0380 Public Relations Lead