WTW (Willis Towers Watson, NASDAQ: WTW) has announced the launch of the newest version of its industry-leading loss reserving and financial reporting software. ResQ 5.3 introduces a number of new features including ResQ Agent Processing, a new capability that represents a major evolution of the ResQ Enterprise Processing Engine.
ResQ Agent Processing offers significant improvements to performance and speed, enhancing the functionality of the software’s reserving and IFRS 17 reporting capabilities. When carrying out core user activities with ResQ Agent Processing – such as updating methods or rolling forward a project – the underlying calculations are no longer carried out on the user’s machine. Instead, they are intelligently distributed across multiple ResQ agents[
This offers the following key benefits:
- Less time spent waiting – When using ResQ Agent Processing, there is no need to wait for database updates to finish after making a change. Users get back control of ResQ immediately, allowing them to continue working on their projects as updates are calculated in the background.
- Faster calculations – With ResQ Agent Processing, many of the intensive calculations within ResQ are carried out in parallel, offering significant reductions in calculation time.
- Minimisation of performance constraints – Agents can be flexibly installed and shared by groups of ResQ Enterprise users to get the most out of ResQ, regardless of IT setup. Even if users are working remotely across multiple geographies, the calculations required to update their shared database can be carried out on hardware in a central location, minimising common performance constraints such as network latency.
- Improved scalability – A pool of ResQ agents can be shared by large groups of ResQ Enterprise users, with each agent used as and when needed. This makes increasingly large and complex ResQ projects possible without sacrificing performance.
Tina Gwilliam, Global Proposition Leader for Reserving and ResQ at WTW, said: “Shrinking timescales and increasing workloads continue to add to already existing pressures on reserving teams. ResQ Agent Processing offers these teams the capabilities they need to work more quickly and efficiently. Client partners who participated in our beta programme were able to conduct regular activities up to ten times faster with Agent Processing.
“ResQ users will be able to deliver their work more quickly, using the time saved to delve deeper into their analysis and provide meaningful insights back to the business.”
This update includes additional investment and improvements in other areas ranging from our Data Exporter function to IFRS17 capabilities.