Willis Towers Watson launches financial modelling platform

Willis Towers Watson has released a significant update to its modelling platform for property/casualty business.

The platform, Igloo 5, has been updated with several improvements, including improved runtime, use-based licensing and full implementation in the cloud, backwards compatibility to support existing client models and investments, and a full 64-but application to support models of different sizes and different simulations.

Igloo provides a platform regulatory and economic capital modelling in addition to other applications including reinsurance purchasing, business planning and business decision support.

“Early indications of performance are very exciting, with models running many, many times faster than earlier versions," said Rob Collinson, global leader for capital modelling at Willis Towers Watson. "What is really key, however, is that Igloo can now be deployed in the cloud with a new licensing framework, which can materially reduce the overall cost of ownership.”

Igloo also offers a range of market/best practice libraries, including a full economic capital model and a full implementation of the Solvency II standard formula.

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