October 22, 2009

Copyright 2009 OnlyStrategic Insurancenewslink
All Rights Reserved
Insurance Newslink

October 21, 2009

425 words


CSC and Towers Perrin partner on financial risk intelligence for US life sector

CSC and Towers Perrin have announced the availability of Financial Risk Intelligence, a new offering to streamline financial risk and capital management analytics for US life insurance and annuity enterprises. The solution combines CSC's Insurance Industry Data Model, consulting expertise and pre-configured integration tools with Towers Perrin's financial modelling software, methodologies and services.

Financial Risk Intelligence is an end-to-end solution that manages data from source systems directly to the financial modelling platform, enabling insurers to assess financial risk better, gain greater visibility into their data and its lineage, and satisfy regulatory and compliance demands. By automating data aggregation, transformation and cleansing through a centralized data source, the solution also eliminates the cost of ad hoc repositories. The insight gained from these analytics can help insurers refine reserves and improve actuarial operations and financial performance.

"The power of technology and its ability to aggregate and present data in a digestible form can transform a business," said Craig Weber, senior vice president, Celent. "Successful insurers recognize that fact and position themselves to make timely improvements in their businesses based on this intelligence."

"Current economic conditions are forcing critical actions by insurers, as their financial risk modelling assumptions, including the timeliness and quality of their data, are being closely scrutinized," said Michael W. Risley, president of the Life and Annuity Division within CSC's Financial Services Group. "Working with Towers Perrin, we are offering a comprehensive solution that enables clients to understand and manage their financial risk quickly, accurately and with auditable and repeatable results."

"Pressure from regulators, rating agencies and investors is motivating insurers to evolve their use of financial modelling, from periodic financial reporting to the ongoing management of risk and capital," said Mike Oxley, managing director, Towers Perrin's Software Solutions. "With Financial Risk Intelligence, we can help insurers bring trusted data from CSC systems to our Tillinghast Actuarial Software(, MoSes and RiskAgility financial modelling systems in increasingly useful timeframes."

To download a white paper entitled, "Improved Financial Risk Management: A Foundation for the Future," or for more information on Financial Risk Intelligence, visit either http://www.csc.com/financialriskintelligence or http://www.towersperrin.com/rfs/riskmanagement.

October 21, 2009