Towers Watson announces the release of ResQ 3.7, an updated version of its ResQ reserving software for property & casualty insurers. With ResQ 3.7, Towers Watson has concentrated on performance and scalability enhancements, a generalized scripting solution, and enriched improvements to the user experience.

Other improvements include:

• Performance has been enhanced for large projects, with speed increases of up to 100 times for some activities.
• ResQ 3.7 now includes a generalized scripting solution in the Enterprise edition. This feature allows ResQ's functionality to be extended by the user (e.g., common tasks can be automated, streamlining the reserving process and providing efficiency gains).
• ResQ 3.7 contains the new scripting solution, including building customized reports from ResQ directly into Microsoft Excel.

 "Regulatory initiatives and changes to financial reporting require clearer audit trails from claim data to management information," said Peter England, Towers Watson's global product leader for P&C reserving software. "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."

ResQ combines powerful modeling and reserving methods with flexible mechanisms to structure, access, and manage data sets. There are nearly 300 insurance companies worldwide that currently use the software.