31 January 2023Analysis

WTW reorganises North American Corporate Risk and Broking

WTW has announced a new “industry specialisation” approach for its North American Corporate Risk and Broking (CRB) business. The new strategy combines all CRB capabilities, client services and industry specialist knowledge in a newly integrated approach addressing customers’ industry sector.

The strategy will align WTW resources with specialist industries to operate as stand-alone businesses within North America while remaining fully connected to CRB’s global expertise, the company. It launches with twelve specific industries, including aerospace, construction, financial and professional services, healthcare and life sciences, retail and distribution, marine and technology and communications.

While clients’ industry sectors will be the primary organising principle, insurance solutions and client segment specialists will also feature in the model. Specialty teams, including its property and casualty, financial and professional and surety business lines, will be embedded within WTW’s industries and remain available to all clients. . Distinct client management teams for the middle market, large, and Fortune 1000 segments will also continue to serve clients both within and outside selected industries.

“Having listened closely to the needs of our clients, we are thrilled to launch this enhanced industry specialisation approach in North America,” said Michael Chang, head of corporate risk and broking for North America.

“Industry specialisation is nothing new, but the traditional broking industry approach is outdated for this market.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 specialisation, data, analytics, broking, claims advocacy, service, risk control, technology and innovation, provides a truly unique client proposition. Every client deserves specialisation – whatever their size, location, or industry, they will benefit from our specialist knowledge.”