Willis Towers Watson Celebrates Double Win at InsuranceERM Awards

Targeted News Service (Press Releases)

LONDON, England, Feb. 7 -- Willis Towers Watson, a risk management, insurance brokerage and advisory company, issued the following news release:

Willis Towers Watson's Insurance Consulting and Technology business has won both categories that it entered at the 2019 InsuranceERM Awards: Best Reserving Solution for its industry-leading software ResQ and Best Data solution for its new transformation tool DataValidator.

ResQ is a well-established innovative solution enabling efficient and effective deterministic and stochastic reserving within a strong governance framework. It was recognised by the judges for its ability to relieve growing pressure on insurers caused by compressed reporting timescales, rising cost pressures and more rigorous governance requirements.

In response to the win, Tina Gwilliam, Global Product Leader for Reserving at Willis Towers Watson, said: "We are delighted to have won this award, reflecting our ability to continue to adapt to changing client needs. As IFRS 17 increases scrutiny of reserving adequacy and reporting, ResQ's capabilities give insurers confidence in meeting these reporting challenges by improving ease of use, consistency and control, as well as streamlining the reserving process."

DataValidator received praise from InsuranceERM's judging panel of senior industry experts for its clear and practical benefits, such as the use of a single, cohesive platform across a business that ensures a consistent approach, removing reliance on legacy approaches, and its ability to achieve data quality early in the process to avoid unnecessary rework and manual adjustments.

Mark Brown, Global Product Leader for DataValidator at Willis Towers Watson, said: "It is a fantastic result to be recognised by these awards, reflecting our commitment to providing insurers with practical, next-generation tools needed to face the new challenges presented by an industry in constant change."