Willis Towers Watson Launches Update of ResQ Reserving Software

Willis Towers Watson has launched a new version of its loss-reserving software, ResQ. ResQ 4.1 provides property and casualty (P/C) insurers with new reporting capabilities to further advance the software’s technical capability, in response to clients’ increasing need for faster and more efficient processes, WTW said in a statement.

“IFRS 17 will sharply increase scrutiny of reserving adequacy and reporting, further ramping up the pressure on insurers to deliver results faster and with greater accuracy, all in a soft market with pressures to cut cost base,” said Tina Gwilliam, Global Product Leader for ResQ at Willis Towers Watson.

“ResQ’s new capabilities will give insurers greater confidence in meeting these reporting challenges by improving ease of use, consistency and control, as well as streamlining the reserving process,” she added.

ResQ 4.1 provides a new integrated reporting facility and additional technical capabilities, together with enhancements to the software’s automation capabilities. ResQ features include:

“In this era of ever-tightening reporting deadlines and squeezed resources, ResQ offers much-needed efficiency through automation, while continuing to provide tools for accurate estimation in a secure, governed environment,” added Gwilliam,

Source: Willis Towers Watson