Articles - Towers Watson unveil new version of ResQ reserving software


Advanced software adapted for evolving regulatory requirements

 Global professional services company Towers Watson (NYSE, NASDAQ: TW) has released an updated version of its ResQ reserving software for property & casualty (P&C) insurers.
  
 With ResQ 3.6, Towers Watson has concentrated on expanding the functionality to support the evolving reserving requirements of Solvency II and International Financial Reporting Standards (IFRS), and on further
 improvements to the user experience, including:
  
     
  •   Additional features to quantify reserve risk, including the one-year
  •  
  •   view of Solvency II
  •  
  •   Significant enhancements to the methods available for calculating
  •  
  •   risk margins, including support for Solvency II and IFRS
  •  
  •   Enhanced cash-flow projection methods to assist with calculating
  •  
  •   discounted reserves
  •  
  •   A new central repository for yield curve and development pattern
  •  
  •   benchmarks
  •  
  •   A redesigned user interface to allow for Windows 7 features
  
 "Following the acquisition of EMB earlier this year, this latest release shows Towers Watson's commitment to keep developing its P&C software suite for its clients," said Andrew English, Towers Watson's global product leader for P&C reserving software. "Regulatory changes are having a profound effect on P&C insurers' processes for estimating their technical provisions, particularly in areas such as discounting and risk margins, so we are encouraging all of our clients to deploy ResQ 3.6 as soon as possible to keep on top of these requirements."
  
 Building on more than a decade of development and innovation, ResQ combines powerful modeling and reserving methods with flexible mechanisms to structure, access and manage data sets. There are nearly 300 insurance companies worldwide that currently use this software.
  

Back to Index


Similar News to this Story

Mean Reversion in Equities
A common argument in favour of equity investments is that, even though they go down, they will bounce right back up again. Commentators may advise “
How to get the most out of your insurance consultant
More than half of UK life insurance companies (59%) will spend more on actuarial consultants in the next year. This is one of the key findings of our
Video of what a cyber attack looks like in the real world
Hackers and their scams live behind keyboards. Invisible and faceless. Hiscox show how it would look ff cyber crime happened in the physical world, th

Site Search

Exact   Any  

Latest Actuarial Jobs

Actuarial Login

Email
Password
 Jobseeker    Client
Reminder Logon

APA Sponsors

Actuarial Jobs & News Feeds

Jobs RSS News RSS

WikiActuary

Be the first to contribute to our definitive actuarial reference forum. Built by actuaries for actuaries.