ARLINGTON, VA, February 11, 2020 — A London-based Willis Towers Watson employee has been announced as the winner of the annual ModelOff World Championship, a global financial modeling competition. Over 2,000 field practitioners and students from all over the world took part in the competition, which was ultimately won by Andrew Ngai, an associate director in Willis Towers Watson’s Insurance Consulting and Technology business.
ModelOff 2019 tested the financial modeling skills and knowledge of the participants in different quantitative disciplines, including Financial Analysis, Banking, Insurance, Actuarial, Engineering, Consulting, Accounting, Microsoft Excel and other finance-related practices.
Alice Underwood, global leader of Willis Towers Watson’s Insurance Consulting and Technology business, said: “Andrew Ngai was up against some of the best modelers in the world, so we are delighted that his skills and ability were recognized in such a prestigious and tough competition. Andrew’s achievement is a testament to our industry-leading risk analytics and modeling expertise that enables us to make a real impact on the financial performance of the companies that we work with.”
The competition was made up of three consecutive rounds; the first and second rounds were held online simultaneously around the world in November and December 2019, respectively, and included real-life financial case studies on a number of topics, such as discount cash flow modeling and innovative problem solving in Microsoft Excel.
The top 15 contestants from those two rounds were then flown to London to compete in the live World Finals on January 25, 2020. In this conclusive round, the world’s masters of finance competed for the title of the World’s Brightest Financial Mind in front of a judging panel made up of a range of industry experts. They were given a variety of challenges testing innovation, speed, data and risk understanding, and best practice modeling theory. The top finalists shared $10,000 in cash prizes.
Alongside the success of Andrew Ngai, Chicago-based Nick Komissarov, North American Life M&A leader at Willis Towers Watson, also successfully reached the competition’s top 50 professional modelers, achieving an impressive global ranking of 45th best modeler in the world. A Rookie/Student competition ran in parallel with the professional competition, in which Willis Towers Watson intern Matt Farmer achieved an outstanding Top 25 finish.
Willis Towers Watson’s Insurance Consulting and Technology business has over 1,200 colleagues operating in 35 markets worldwide. It is a leading provider of advice, solutions and software — primarily to the insurance industry. Its consulting services help clients manage risk and capital, improve business performance and create competitive advantage — by focusing on financial and regulatory reporting, enterprise risk and capital management, M&A and corporate restructuring, products, pricing, business management and strategy.
Willis Towers Watson (NASDAQ: WLTW) is a leading global advisory, broking and solutions company that helps clients around the world turn risk into a path for growth. With roots dating to 1828, Willis Towers Watson has 45,000 employees serving in more than 140 countries and markets. We design and deliver solutions that manage risk, optimize benefits, cultivate talent, and expand the power of capital to protect and strengthen institutions and individuals. Our unique perspective allows us to see the critical intersections between talent, assets and ideas — the dynamic formula that drives business performance. Together, we unlock potential.
