General Insurance Article - Towers Watson releases new software integration platform

 “Insurers require richer and deeper analysis, more frequently and quickly, with strict governance and controls,” said Joel Fox, Towers Watson’s global Life Financial Modelling and Reporting leader. “Yet they face an economic environment that demands substantial reductions in overhead, which means they can’t just throw more expensive resources at the problem. They need to do more, faster, for less. Towers Watson Unify is a transformational solution that enables them to do that.”

 Towers Watson Unify is an enterprise risk and actuarial systems platform that enables integration of software products while providing automation of flexible, user-defined workflows to run these solutions. In addition, the platform supports governance over the operation of these integrated workflows, including security, version control and automated creation of comprehensive audit trails.

 The Unify platform works with Towers Watson risk software products, including Solutions for Life, and third-party software. Its seamless integration provides for better data flow and interaction between these applications. User-defined workflows can be fully automated as end-to-end processes, which can be triggered manually, scheduled for future times or executed by other external systems and scheduling tools that companies may have already deployed in their business. Tailored governance protocols, including user reviews, approvals and other user interventions, can be designed into workflows, and detailed audit logs capture all those interactions within the system, along with native audit logs from underlying systems that run as part of a workflow.

 “Unify allows insurers to fundamentally change their end-to-end financial modelling and reporting processes to run with greater efficiency and consistency, and proper governance. With Unify, insurers can rise to a higher standard of performance in risk and capital management,” said Fox.