NEW YORK--(BUSINESS WIRE)--Global professional services company Towers Watson (NYSE, NASDAQ: TW) has announced the availability of an enhanced financial modeling application, based in Igloo, for property and casualty (P&C) insurers in the U.S. This application is designed to help insurance companies get a fast start in using comprehensive, full-function models to help better manage risk and capital on a U.S. GAAP, U.S. STAT, or economic basis.
The application’s core engine provides end-to-end functionality, including economic drivers, reserves, underwriting, reinsurance, assets, financials and capital-setting allocation. It also provides a direct link to Towers Watson ResQ reserving software to better facilitate the alignment of capital modeling and reserving decisions. In addition, the application includes parameterization tools and a suite of user-friendly reports and tools that can help enhance companies’ understanding of risk volatility, as well as monitoring and reporting to senior management.
“The Igloo U.S. modeling application makes it much easier for insurers to get up to speed quickly,” said Towers Watson’s Tom Hettinger, Americas P&C sales and practice leader. “This allows P&C insurers to quickly realize the full benefits from their models for business planning, strategy development and enterprise risk management.”
Towers Watson Igloo, noted for its transparency and scalability, is used by a variety of organizations, including insurers, reinsurers, financial institutions and regulators. Igloo enables these companies to quickly see how decisions might impact the risk and performance of the business, and use model outputs to promote a wider understanding of risk across the company.
Igloo is available in a variety of editions, from the Express and Compact Editions for companies that want a convenient entry point, to the Enterprise Edition for companies that want a robust modeling environment using an enterprise-grade parallel computing solution with database, data control and audit capabilities.
About Towers Watson
Towers Watson (NYSE, NASDAQ: TW) is a leading global professional services company that helps organizations improve performance through effective people, risk and financial management. The company offers consulting, technology and solutions in the areas of benefits, talent management, rewards, and risk and capital management. Towers Watson has more than 14,000 associates around the world and is located on the web at towerswatson.com.