Professional services company
Towers Watson says version 1.1 includes new applications for modeling fixed annuity, fixed indexed annuity and term-life products, providing enhancements to existing applications for variable annuity and universal life products, as well as improvements to asset modeling, economic scenario generation and reporting capabilities common to all applications in the suite.
“We are pleased to be able to extend innovative modeling approaches that we first introduced for variable annuity and universal life products to a broader set of life insurance products,” says Todd Erkis, Towers Watson’s global life software product manager. “We have seen very positive feedback from our clients using these techniques, which our consultants have also used to help insurers solve business problems.”
Towers Watson says MoSes USLMS supports nested-stochastic, inner-loop valuations. Further, asset/liability interactions can be in both inner and outer loops, for more realistic results than other simplified approaches, and the applications calculate point-in-time and projected values on a statutory principle-based approach and GAAP basis using dynamic, real-time calculation techniques. Moreover, Towers Watson adds that the system is optimized for distributed processing on a grid or compute cluster so that insurers can calculate sophisticated financial analytics in less time.
