RiskAgility™ Financial Modeling Suite for Insurers Developed With Proven Microsoft® Technology and Design Principles
Stamford, CT., October 23, 2007 — Towers Perrin is introducing RiskAgility™, an advanced financial modeling software framework that allows insurance companies to manage risks across their organizations. With RiskAgility™, companies will be able to carry out pricing, financial reporting and capital management work faster, and with greater confidence in the accuracy of the results. The system will also enable the proper governance and controls required by Sarbanes-Oxley and Solvency II. It is built using the latest Microsoft technologies based on a .NET architecture
“The financial services market is changing rapidly, with rating agencies, regulators and investors expecting better controls and more sophisticated risk management,” said Steve Taylor-Gooby, Managing Director and leader of Tillinghast, the firm’s insurance consulting practice. “We are responding to these changes by introducing a completely new solution with the performance and scalability to run the most sophisticated financial models in usable time frames. Because RiskAgility™ is built from the ground up with the latest technology, it offers the power, speed, control, enterprise-wide collaboration and automation that companies are looking for.”
The RiskAgility™ Financial Modeling Suite comprises a series of customizable industry-specific applications, providing actuarial software solutions for major insurance markets as well as a general purpose corporate enterprise risk management (ERM) solution. Clients in the U.S., Canada and Europe can begin implementing the RiskAgility™ framework next year. The first application within the framework will be the RiskAgility™ P&C application, which will be available in early 2008.
“RiskAgility™ differs from existing financial modeling software that simply takes old code from an existing product and wraps it in an updated technology shell. There is no legacy software hidden inside RiskAgility™,” said Mike Oxley, Managing Director and leader of the firm’s financial modeling software solutions group. “By joining Towers Perrin’s business and actuarial expertise with the latest technology from Microsoft, we are giving our clients a distinctive, powerful business solution that we think is unmatched in our industry. RiskAgility’s™ powerful technology and flexible modeling capabilities will make it possible for insurers to significantly increase the sophistication of their modeling, resulting in greater accuracy and better information for strategic decision making.”
About Towers Perrin
Towers Perrin is a global professional services firm that helps organizations improve their performance through effective people, risk and financial management. Through the Tillinghast line of business, Towers Perrin provides consulting and software solutions to insurance and financial services companies and advises other organizations on risk financing and self-insurance. Tillinghast helps clients improve business performance in areas related to their financial, risk, product, distribution and capital issues. The firm also provides human resource consulting and reinsurance intermediary services. Together, these businesses have offices and business partner locations in the United States, Canada, Europe, Asia, Latin America, South Africa, Australia and New Zealand. More information about Towers Perrin is available at www.towersperrin.com.Tags: outlook, report, Valen Analytics