Towers Watson has introduced an upgraded version of its ResQ reserving software for property & casualty (P&C) insurers.

Dubbed ResQ 3.7, the newly released software features performance and scalability enhancements specifically for large projects, a generalized scripting solution, as well as enriched improvements to the customer experience.

Towers Watson P&C reserving software global product leader Peter England said the regulatory initiatives and changes to financial reporting need clearer audit trails from claim data to management information.

”Among other things, the scripting solution in ResQ 3.7 can assist with automating key tasks, reducing the possibility of human error and strengthening the governance around reserving processes,” England added.

Integration of generalized scripting solution in the Enterprise edition enables the user to expand ResQ’s functionality.

ResQ merges powerful modeling and reserving methods with flexible mechanisms to structure, access and manage data sets, and is currently used by approximately 300 insurance companies worldwide.

Towers Watson enables organizations to improve their performance through effective people, risk and financial management.