Global consulting firm Willis Towers Watson has appointed David Singh and Pardeep Bassi to its Insurance Advisory practice. The couple joins the investment advisory specialist to strengthen its global leadership team.
In September 2021, Willis Towers Watson, one of the world’s largest recruitment and insurance brokerage firms, announced a new leadership team. As the company tried to push itself for new growth – after a merger with Aon fell through – the new team included Incoming Managing Director Karl Hesswho succeeded John Haley upon his retirement on January 1, 2022.
Now, as the company seeks to capitalize on these changes, it has installed two new department heads. Pardeep Bassi will work to grow the company’s global data science and insurance analytics capabilities, while David Singh will drive the company’s climate analytics and risk management capabilities.
As a global proposition leader in data science, Bassi will build on the company’s market-leading analytics and data science software, Emblem and Radar. To do this, the department will work to develop and deliver innovative data-driven solutions for insurance companies.
Bassi commented, “I am very pleased to join the highly experienced and talented people at WTW and look forward to working together to drive global industry adoption of machine learning. We will put theory into practice to unlock the tremendous potential of machine learning and transform insurance.”
Most recently, he served as Chief Data Science Officer at LV= General Insurance, where he was responsible for developing and delivering the insurer’s advanced analytics and machine learning strategy; Work across all business functions to identify and implement solutions to new opportunities where machine learning can add value to the business. Prior to LV= General Insurance, Bassi also spent time at AXA and Domestic & General building and leading 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 in turning data into insights to support client decisions. We continue to invest to ensure our data science capabilities remain at the cutting edge of market practice. I’m excited that Pardeep has joined our team to drive market adoption of AI. He has an outstanding track record of applying innovative techniques to P&C insurance challenges and unlocking significant value.”
Meanwhile, as Head of Climate Analytics & Exposure Management, David Singh will oversee the deployment of climate analytics capabilities to help insurers understand and manage exposure and financial risks from climate change. At the same time, the team will develop and implement risk management frameworks and methodologies to support business and operating model transformation in line with internal and external stakeholder expectations.
Singh said: “I am delighted to join the team at WTW, which is at the forefront of innovation around understanding and managing climate risk. By leveraging WTW’s unique expertise and state-of-the-art climate analysis capabilities, we are well positioned to help insurers understand and manage their exposure to climate change, transform their business models to drive innovation in underwriting and product design, a significant one to deliver value and reduce business risk.”
With over 20 years of experience modeling and reporting across multiple underwriting classes and regulatory regimes, Singh was Group Head of Exposure & Portfolio Management at global insurer MS Amlin, where he was responsible for the group’s risk aggregation and reporting activities across all legal entities. He also previously worked for Lloyd’s of London with senior responsibilities including managing the firm’s catastrophe risk appetite, managing multiple regulatory filings to and from the market and ensuring the managing agents exceed Lloyd’s expectations and risk management standards.
Adhiraj Maitra, Global Head of ESG and Climate Change, Insurance Consulting and Technology at Willis Towers Watson, commented: “David brings an exceptional level of exposure management expertise and experience to this new role. Insurers are under increasing pressure to understand and address the growing uncertainty surrounding climate change-related risks as they seek to evolve the role of risk management in business.”