Towers Watson Launches Updated Version of ResQ Reserving Software
Advanced software adapted for evolving regulatory requirements
NEW YORK -- January 16, 2013
Towers Watson (NYSE, NASDAQ: TW), a global professional services company, has
released ResQ 3.7, an updated version of its ResQ reserving software for
property & casualty (P&C) insurers. With ResQ 3.7, Towers Watson has
concentrated on performance and scalability enhancements, a generalized
scripting solution and enriched improvements to the user experience.
*Performance has been enhanced significantly, particularly for large
projects, with speed increases of up to 100 times for some activities.
*ResQ 3.7 now includes a generalized scripting solution in the Enterprise
edition. This is a powerful new feature that allows ResQ’s functionality
to be extended by the user (e.g., common tasks can be automated,
streamlining the reserving process and providing efficiency gains).
*ResQ 3.7 contains several examples of using the new scripting solution,
including building customized reports from ResQ directly into Microsoft
“Regulatory initiatives and changes to financial reporting require clearer
audit trails from claim data to management information,” said Peter England,
Towers Watson’s global product leader for P&C reserving software. “Among other
things, the scripting solution in ResQ 3.7 can assist with automating key
tasks, reducing the possibility of human error and strengthening the
governance around reserving processes.”
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 the software.
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 solutions in the areas of
benefits, talent management, rewards, and risk and capital management. Towers
Watson has 14,000 associates around the world and is located on the web at
Josh Wozman, +1 703-258-7670
Binoli Savani, +1 703-258-7648
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