Towers Perrin Announces Updated RiskAgility™ P&C Risk and Financial Modeling Solution for Insurers and Reinsurers

Business Wire, June 24, 2009

Comprehensive Features of Software Platform Help InsurersUnderstand and Manage Financial Risk

STAMFORD, Conn. -- Towers Perrin, a global professional services firm, has announced RiskAgility™ P&C Version 1.2, a financial modeling solution for both property & casualty insurers and reinsurers. The software solution, utilizing the most up-to-date technology from Microsoft, is aimed at helping companies manage risk and capital better – while satisfying increased scrutiny from rating agencies, regulators and investors – for improved enterprise risk management (ERM).

“Property/casualty insurers are facing increased pressure to improve and expand their implementation of ERM,” said Mike Oxley, managing director of software solutions for Towers Perrin. “Failure to measure up can cost a company a favorable rating, which can have a dramatic impact on the bottom line. With RiskAgility P&C, insurers can respond with a strong business and technology solution that will satisfy outside constituents while improving business performance.”

RiskAgility P&C helps insurers to measure risks across their enterprise better, determine capital requirements and allocate capital to business units. It also enables them to develop reserve ranges, optimize reinsurance programs and measure economic performance and value creation.

“Our company had been looking for a financial modeling solution to help us improve capital management,” said Michael Young, senior vice president and chief financial officer with MMG Insurance Company. “RiskAgility P&C gives us deeper insight into the interactions between our insurance portfolio, investments, reinsurance and financial strategies, which will help us manage capital. Towers Perrin helped us learn the system and get our model up and running quickly.”

The application provides powerful graphical analytics, giving managers a clearer understanding of the financial risks borne by their companies. The intuitive user interface makes RiskAgility P&C easy to set up and use, helping insurers achieve the benefits of enhanced financial modeling more quickly. Version 1.2 helps insurers compare the impact of multiple reinsurance programs in a single run using individual portfolio reporting and side-by-side graphical portfolio analysis.

“There’s an evolutionary path for risk and financial modeling, from spreadsheet models, to packaged software with standard functions, to comprehensive financial modeling software that can model an insurer’s entire business,” said Stephen Lowe, global director of the property & casualty insurance practice for Towers Perrin. “RiskAgility P&C can take an insurer to the highest level of financial modeling using proven methods and the latest software technology. In addition to delivering comprehensive capabilities and technology, we have remained focused on making RiskAgility P&C easy to learn and flexible to use.”

About Towers Perrin

Towers Perrin is a global professional services firm that helps organizations improve their performance through effective people, risk and financial management. The firm provides innovative solutions in the areas of human capital strategy, program design and management, and in the areas of risk and capital management, insurance and reinsurance intermediary services, and actuarial consulting. Towers Perrin has offices and alliance partners in the United States, Canada, Europe, Asia, Latin America, South Africa, Australia, New Zealand and the Middle East. More information about Towers Perrin is available at www.towersperrin.com.