WTW launches ResQ Machine-led Reserving to boost P&C re/insurance

New tech provides faster, accurate reserving for re/insurers

WTW launches ResQ Machine-led Reserving to boost P&C re/insurance

Reinsurance

By Kenneth Araullo

WTW has introduced ResQ Machine-led Reserving, a new technology aimed at improving precision and efficiency in property and casualty reserving for insurers and reinsurers.

Tina Gwilliam, WTW's global proposition leader for reserving, noted that the insurance sector has traditionally faced challenges with costly, infrequent, and low-detail analyses required for financial reporting.

“ResQ Machine-led Reserving delivers faster, more precise results that allow reserving teams to focus where it matters and provide insights to support broader business needs,” Gwilliam said.

The new tool leverages proprietary algorithms to enhance the core reserving methods in ResQ, WTW’s established loss reserving solution. This setup allows for fully automated and independent loss estimates at the press of a button.

According to WTW, back-testing of ResQ Machine-led Reserving’s projections against historical human-selected best estimates has shown considerable outperformance, delivering increased accuracy and stability.

The technology is based on traditional reserving techniques, allowing results to be fully understood and easily adjusted as needed. This adaptability supports users in managing higher complexity, granularity, and frequency without compromising control or interpretability, noted WTW.

Gwilliam said that ResQ Machine-led Reserving is “transforming the way forward-thinking insurers operate, providing accurate and transparent projections of ultimate losses.”

“It allows reserving teams to deliver increased value and brings algorithmic reserving to pricing and portfolio management functions,” she said.

Earlier this month, the global broking firm also announced its new Structured Auto Buffer London Excess (StABLE) facility as a risk financing solution that utilizes ‘Swing Plan’ structures, designed to assist organizations in managing fleet-related risks while offering potential rewards for effective risk management and positive loss performance.

The StABLE facility allows clients to share both risk and potential rewards from their fleet operations. If losses remain below a predetermined threshold, clients may receive a portion of the premium back, with an option to commute the policy for further returns.

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