Towers Watson has released updated versions of its RiskAgility MoSes enterprise financial modelling software and RiskAgility Economic Capital (EC) Aggregator software, which the firm said will help insurers better manage risk and value
RiskAgility provides a centralised, controlled environment for running financial models, including MoSes and RiskAgility EC applications. When used with an objective risk governance process, these models can help companies measure and manage risk, according to Towers Watson.
The updated RiskAgility MoSes version 3.1 application extends detailed job status information and controls, and provides greater flexibility in scheduling and monitoring modelling runs, the firm added.
RiskAgility EC provides real-time risk analytics that fully reflect the nature of the business for continuous solvency monitoring and risk management. With RiskAgility EC, insurers can use calculations of economic capital for critical business processes such as investment strategy, business planning and performance management.
Towers Watson's RiskAgility EC version 2.0 provides additional options for the construction of loss functions. By using these capabilities, insurers can obtain more precise measurements of risk exposure and attendant capital requirements under current and projected assumptions, the firm said.
Todd Erkis, Towers Watson's global life software product manager said:
"The RiskAgility MoSes enhancements will make it easier and more efficient for our clients to manage and run their MoSes models in their RiskAgility production application environment, and the RiskAgility EC enhancements give clients additional options to project capital requirements forward."