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Towers Perrin Releases Economic Capital Calculation Tool

RiskAgility Economic Capital Aggregator (RiskAgility EC) can help insurers to calculate economic capital faster and more reliably, according to the vendor.

Seeking to address the need of insurers across all lines of business to calculate economic capital faster and more accurately, Towers Perrin has released RiskAgility Economic Capital Aggregator (RiskAgility EC) according to the Stamford, Conn-based vendor.

"RiskAgility EC " paired with Towers Perrin's experience in dealing with economic capital-related issues " is a critical advancement in the way insurers view and handle risk, as it enables near real-time risk and capital management," says David Dullaway, Towers PerrinpPrincipal and leader of the firm's global economic capital initiative. "With the ability to make more accurate, timely calculations of economic capital, insurers will be able to demonstrate that their risk governance processes are based upon sound methodologies that are fully embedded in the business."

According to a vendor press release, RiskAgility EC provides robust aggregation capabilities, while fully reflecting dependencies between lines of business; allows for capital allocation, including the diversification benefit while bringing together market, insurance and other risks consistently; takes advantage of an insurer's existing financial projection systems; and provides immediate, transparent updates for "what if" analysis.

Towers Perrin's proficiency in economic capital and risk aggregation can help insurance companies gain access to better information more quickly to inform critical business decisions, the vendor release says. With tools such as RiskAgility EC, insurers will be better prepared to meet evolving requirements of regulators, rating agencies and investors, the vendor claims.

Anthony O'Donnell has covered technology in the insurance industry since 2000, when he joined the editorial staff of Insurance & Technology. As an editor and reporter for I&T and the InformationWeek Financial Services of TechWeb he has written on all areas of information ... View Full Bio

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