ARLINGTON, VA, June 18, 2021 — Leading global advisory, broking and solutions company Willis Towers Watson (NASDAQ: WLTW) has received three insurance awards from InsuranceERM.com, an insurance industry risk and capital management online service. The second annual InsuranceERM Americas Awards recognized Willis Towers Watson’s ResQ for Actuarial Modeling Solution of the Year, Radar Live for Analytics Solution of the Year and Parametric Earthquake Reinsurance Solution for Risk Consultancy of the Year.
“We’re extremely honored that InsuranceERM has recognized our insurance technology solutions as best in class,” said Serhat Guven, managing director, Insurance Consulting and Technology, Willis Towers Watson. “In today’s rapidly changing insurance market, companies need to embrace innovation and transformation while employing forward-looking strategies to succeed. These awards demonstrate our commitment to transformative solutions that address the needs of the industry and, most importantly, add value to our clients, which in turn benefit their clients and customers.”
The InsuranceERM.com technology awards recognized providers helping the industry achieve their goals. ResQ is a loss reserving system for insurance and reinsurance combining powerful modeling and reserving methods that structure, access and manage data sets. Radar Live enables prices, rules, adjustments, scores and other metrics to be deployed directly to a rating system and calculated in real time.
The Risk Consultancy of the Year award recognized the company’s Parametric Earthquake Reinsurance Solution as a successful enterprise risk management project. The solution leveraged an in-house earthquake model for Morocco to design and place parametric reinsurance for the government's Solidarity Fund, a novel catastrophe risk protection mechanism which entitles underprivileged, uninsured households to compensation for personal injury and the loss of their principal residence.
"We're thrilled our work deploying insurance tools and products to close the protection gap and build resilience among the most vulnerable has been recognized,” said Simon Young, senior director, Climate and Resilience Hub, Willis Towers Watson. “Our work addressing systemic global issues around risk and resilience requires many facets across our business to collaborate. This award reflects the value of teamwork in serving all of our clients."
The InsuranceERM judging panel consisted of industry professionals with deep experience of risk and capital management who were chosen for their knowledge and objectivity.
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 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.
