Who’s using what?: August 5, 2015

Towers Watson introduced Towers Watson DataValidator, a data validation and transformation solution that helps insurers use data more efficiently across financial modeling analytics, pricing applications and risk management. DataValidator helps to provide a quick and comprehensive regulatory data quality assessment while keeping track of mandatory governance and audit readiness. DataValidator works with Towers Watson risk software products and third-party software solutions.

Applied Systems announced that total transactions on its Applied CSR24 system grew more than 50% from 2013 to 2014. At year end, more than 1,000 insurance agency and brokerage customers across the U.S., U.K. and Canada totaled more than 12 million transactions on the leading online self-service application. The company has also released Applied TAM 2015, the latest version of its agency and brokerage management system. The new Applied TAM includes enhanced Claims Download management, increased integration with Applied CSR24 and Applied MobileProducer, enhanced usability and integrated premium finance in the UK.

[Related: Who's using what: June 26, 2015]

Air Worldwide (Air) announced the update of its earthquake models for South America based on new data and research on seismic risk in the region. The models now enable the analysis of high-value industrial facilities, builder's risk, and public infrastructure. Insurers, reinsurers and other stakeholders will now be provided the most comprehensive view of earthquake risk in South America. Air has also released Winter Storm and Tropical Cyclone models in the expansion of its suite of models for Canada. The hazard and engineering components of the Canada Severe Thunderstorm Model have also received comprehensive updates. Air also announced an update to its Hurricane Model for the U.S., making it easier for insurers and reinsurers to understand and quantify the risk from hurricanes. The new module incorporates regional and seasonal data on tide heights and contains the most recent data on levees, seawalls, floodgates, pump systems, and other extenuating structures and equipment.

Xchanging plc confirmed the registration of 129 reinsurance carriers, which are now actively using its reinsurance deal distribution platform, globalREmarket. The platform promotes fast distribution of treaty risk information to global reinsurance carriers through a single online repository. 

New York Central Mutual Fire Insurance Company announced the introduction of inControl, an innovative usage-based insurance (UBI) program. InControl allows teenage drivers and parents to customize email and text alerts to measure and monitor harsh braking, harsh acceleration, speeding, unauthorized driving times and unapproved driving locations. Drivers gain access to real-time information about their driving habits through a web portal. Drivers who enroll receive a 10% participation discount on their auto insurance premium for the first twelve months, if eligible, and could save up to 30% on renewal premium after an assessment of driving behaviors. 

Penn National Insurance now uses Accenture's Accenture Duck Creek Policy software for quoting to modernize its property and casualty insurance system. The software will be used for quoting, underwriting, and policy administration. The Accenture Duck Creek Policy software includes the Accenture Duck Creek Rating engine and Accenture Duck Creek Templates. The two components support all of Penn National Insurance's commercial lines: business owners' policy, commercial auto, commercial property, commercial umbrella, general liability and workers' compensation.