Professional services and risk management software solutions firm Towers Perrin has announced RiskAgility P&C Version 1.2, a financial modeling solution for P&C insurers and reinsurers. The software product, based on the latest Microsoft technology, is aimed at helping companies manage risk and capital better while meeting the demands of rating agencies, regulators and investors that carriers demonstrate better enterprise risk management capabilities, according to a Towers Perrin source.
RiskAgility P&C helps insurers to measure risks across their enterprise better, determine capital requirements and allocate capital to business units, according to Towers Perrin, as well as enabling them to develop reserve ranges, optimize reinsurance programs and measure economic performance and value creation.
"Our company had been looking for a financial modeling solution to help us improve capital management," comments Michael Young, senior vice president and CFO, MMG Insurance Company (Presque Isle, Maine). "RiskAgility P&C gives us deeper insight into the interactions between our insurance portfolio, investments, reinsurance and financial strategies, which will help us manage capital. Towers Perrin helped us learn the system and get our model up and running quickly."
Towers Perrin asserts that the application provides powerful graphical analytics, giving managers a clearer understanding of the financial risks borne by their companies. The vendor claims that an intuitive user interface makes RiskAgility P&C easy to set up and use, helping insurers achieve the benefits of enhanced financial modeling more quickly. Version 1.2 helps insurers compare the impact of multiple reinsurance programs in a single run using individual portfolio reporting and side-by-side graphical portfolio analysis, Towers Perrin 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