Willis Towers Watson has updated its systems integration and workflow platform, Unify, which is introducing new features in response to the challenges spawned by Solvency II.
Launched in 2015, the software platform is designed to help insurers integrate their financial modelling and reporting applications into an automated and governed process. Now, Unify 2.0 sees “significant performance and ease of use improvements,” according to the brokerage giant.
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“A more demanding regulatory environment is putting insurers under pressure to produce richer and deeper analysis, more frequently and quickly, with strict governance and controls,” said Rob Kemp, Unify product leader at Willis Towers Watson.
“Yet a challenging backdrop of squeezed budgets means they can’t just throw more expensive resources at the problem,” Kemp added. “Unify allows insurers to fundamentally change their end-to-end financial modelling and reporting processes to run with greater efficiency and consistency, and rise to a higher standard of performance in risk and capital management.”
With Unify 2.0, insurers are seen to substantially reduce the working day timetable and the resources required to perform their regular reporting. The enhanced platform would also make it easier for firms to create workflows, find and manage information in the system, and exchange data activities with other staff.
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