New York-based professional services company, Towers Watson has introduced advanced versions of its RiskAgility MoSes enterprise financial modeling software and RiskAgility Economic Capital (EC) Aggregator software to help insurers efficiently manage risk and value.

The updated version 3.1 provides increased flexibility in scheduling and monitoring modelling runs and also expands detailed job status information and controls.

Towers Watson’s global life software product manager Todd Erkis said the upgrades will enable customers to better run their MoSes models in RiskAgility production application environment, and the RiskAgility EC update will provide added options to project capital requirements forward.

RiskAgility delivers a centralised, controlled environment for running financial models, including MoSes and RiskAgility EC applications.

RiskAgility EC provides real-time risk analytics which can be used by insurers for calculations of economic capital for critical business processes including investment strategy, business planning and performance management.

RiskAgility EC version 2.0 offers additional options for the construction of loss which ensure insurers obtain more precise measurements of risk exposure and attendant capital requirements.