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Towers Watson Launches Updated Version of ResQ Reserving Software

Towers Watson (NYSE, NASDAQ: TW), a global professional services company, has released ResQ 3.7, an updated version of its ResQ reserving software for property & casualty (P&C) insurers. With ResQ 3.7, Towers Watson has concentrated on performance and scalability enhancements, a generalized scripting solution and enriched improvements to the user experience.

  • Performance has been enhanced significantly, particularly for large projects, with speed increases of up to 100 times for some activities.
  • ResQ 3.7 now includes a generalized scripting solution in the Enterprise edition. This is a powerful new feature that allows ResQ’s functionality to be extended by the user (e.g., common tasks can be automated, streamlining the reserving process and providing efficiency gains).
  • ResQ 3.7 contains several examples of using the new scripting solution, including building customized reports from ResQ directly into Microsoft Excel.

“Regulatory initiatives and changes to financial reporting require clearer audit trails from claim data to management information,” said Peter England, Towers Watson’s global product leader for P&C reserving software. “Among other things, the scripting solution in ResQ 3.7 can assist with automating key tasks, reducing the possibility of human error and strengthening the governance around reserving processes.”

Building on more than a decade of development and innovation, ResQ combines powerful modeling and reserving methods with flexible mechanisms to structure, access and manage data sets. There are nearly 300 insurance companies worldwide that currently use the software.

About Towers Watson

Towers Watson (NYSE, NASDAQ: TW) is a leading global professional services company that helps organizations improve performance through effective people, risk and financial management. The company offers solutions in the areas of benefits, talent management, rewards, and risk and capital management. Towers Watson has 14,000 associates around the world and is located on the web at towerswatson.com.

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