Software - New pricing software from Towers Watson targets telematics

 Towers Watson hasannounced the release of its Emblem 4.3 pricing software, which is distinguished by considerable speed improvements, performing 20% faster than the previous version. Emblem is a software solution that property & casualty (P&C) insurers use to model claim experience and business demand in order to price premiums effectively.

 Emblem XE 4.3, a high-performance edition designed for companies with exceptionally large data sets, takes full advantage of multiple processors— up to 128 processor threads— and 64-bit systems. In comparative tests on a variety of typical pricing models and hardware/software configurations, Emblem XE 4.3 performed, on average, five times faster than its previous version and 30 times faster than the previous standard edition.

 “These are substantial speed improvements that will help companies explore their data more thoroughly and maximize their profitability,” said Duncan Anderson, Towers Watson’s global P&C pricing and product management leader. This is certainly the case for P&C insurers developing telematics usage-based insurance products, for example, where the volumes of data involved are absolutely vast, particularly if companies are collecting it on a per-second basis, which is what we recommend. As competition increases for telematics customers, data analysis capability will become even more important for product differentiation."

 Emblem has been developed over more than a decade. There are now more than 1,400 users among P&C insurers worldwide, and several leading life insurers have also started to use Emblem to enhance mortality analysis.