Willis Towers Watson drove the market for a new version of the lost-reserve software ResQ. In the WTW statement, ResQ 4.1 provides property and casualty (P / C) insurers with new reporting capabilities to further advance the technical capabilities of the software in response to customers’ growing need for faster and more efficient processes.
“IFRS 17 will further increase the pressure to provide faster and more accurate results in a soft spot where pressure is being made to lower the cost of insurers, which will accelerate the review of reserve adequacy and reporting,” he said. Willis Towers Watson ResQ.
“ResQ’s new capabilities will provide greater confidence in meeting these reporting challenges, as well as simplifying the separation process, as well as insurance, ease of use, consistency and control.”
ResQ 4.1 offers a new integrated reporting capability and additional technical features along with the software’s automation capabilities. ResQ features include:
Users can now easily generate reports (no coding required), select results / data using drag-and-drop and simple configuration options. Better reporting allows users to better understand the results that enable them to make better, more informed business decisions.
ResQ has developed integration with Unify, WTW’s workflow automation and management platform for software that has comprehensive automation capabilities through the COM API, but wants to create a more controlled end-to-end solution that includes multiple systems as well as ResQ. This is why clients can further accelerate their processes to improve business productivity and governance.
ResQ is fully compatible with third-party cloud providers and can now be used as a service (SaaS) software offered by Willis Towers Watson. These flexible deployment options ensure ResQ is available to the individual needs of the insurance company.
“At this time of tight reporting times and tight resources, ResQ offers a much needed productivity through automation, while continuing to provide tools for accurate forecasting in a secure and managed environment,” Gwilliam said.
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