Towers Watson Updates Life Modeling Suite

The software helps insurers better meet regulatory, rating agency and competitive challenges, the company asserts.

New York-based Towers Watson has released an updated version of its MoSes U.S. Life Modeling Suite financial modeling software.

The product calculates point-in-time and projected values on a statutory principle-based approach and GAAP basis using dynamic, real-time calculation techniques, according to a Towers Watson statement. Version 1.1 includes new applications for modeling fixed annuity, fixed indexed annuity and term life products and improves asset modeling, economic scenario generation and reporting capabilities for those and existing applications for variable annuity and universal life products.

“We are pleased to be able to extend innovative modeling approaches that we first introduced for variable annuity and universal life products to a broader set of life insurance products,” Todd Erkis, Towers Watson’s global life software product manager, says in a statement. “We have seen very positive feedback from our clients using these techniques, which our consultants have also used to help insurers solve business problems.”

Nathan Golia is senior editor of Insurance & Technology. He joined the publication in 2010 as associate editor and covers all aspects of the nexus between insurance and information technology, including mobility, distribution, core systems, customer interaction, and risk ... View Full Bio