Willis Towers Watson updates faster and more integrated version of DataValidator
Willis Towers Watson has launched an updated version of its DataValidator technology, which helps property and casualty (P&C) and life insurers to use their data more efficiently.
Willis emphasised the challenge insurers face in securing timely access to good quality data, which it said remains “one of the most difficult challenges facing the insurance sector, due to struggles with legacy systems and the demands of IFRS 17 and other fast-evolving regulatory timetables.”
DataValidator validates, cleanses and transforms data for use in financial modelling and reporting processes. Its enhanced features include processing speeds that are up to 20 times faster, and improved integration with Unify, Willis Towers Watson's business process management, governance, and automation technology.
The latter allows users to more easily build end-to-end business processes, deeply embedding data validation and transformation into insurers' workflows, Willis said.
Tom Beasley, director and product lead for DataValidator at Willis Towers Watson, said: “DataValidator allows insurers to streamline the production of their data for actuarial and risk analytics calculations. The software solution is user-friendly, fitting neatly into any existing data process, and helps ensure high-quality data. This generates significant efficiency gains by capturing issues early in the process, thus avoiding unnecessary rework and manual adjustments.”
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