Towers Watson News

Nearly 100% of Insurers Report Higher Profits Using Predictive Modeling

Predictive modeling has notably increased in value across several areas of property/ casualty insurers’ business over the past six years, according to global professional services company Towers Watson’s annual Predictive Modeling Survey. The web-based survey of U.S. and Canadian P&C …

Telemedicine Technology Could Mean Big Savings for Employers, Insurers

Telemedicine could potentially deliver more than $6 billion a year in health care savings to U.S. companies, but only if the technology is widely-adopted. According to analysis by global professional services company Towers Watson, achieving this level of savings would …

Insurance Merger and Acquisition Activity on the Rise

An overwhelming majority (86 percent) of North American insurance executives expect to see an increase in the volume of insurance mergers and acquisitions (M&As) over the next one to three years, compared to the previous three years, and more than …

Towers Watson Launches Auto Insurance Scoring Model

Towers Watson, a global professional services company, announced the launch of DriveAbility 2.0 Score, a new analytical scoring model designed for the automobile insurance industry. DriveAbility 2.0 Score includes a GPS version with location-specific factors in the risk model and …

Commercial Insurance Prices Stay on Upward Trend: Towers Watson

Survey indicates employment practices liability has steepest price increase. Commercial insurance prices increased by 5 percent in aggregate during the third quarter of 2013, according to the latest Commercial Lines Insurance Pricing Survey (CLIPS) conducted by global professional services company …

Commercial Insurance Prices Increase for the Eighth Straight Quarter

Commercial insurance prices rose by almost 7 percent in aggregate during the fourth quarter of 2012, marking the eighth consecutive quarter of price increases and the fourth showing increases across every line surveyed, according to the latest Commercial Lines Insurance …

Commercial Insurance Prices Rise as Carriers’ Loss Ratios Improve

Commercial insurance prices in aggregate increased by 6 percent during the third quarter of 2012. This marked the seventh consecutive quarter that aggregate prices for all commercial lines rose, according to the new Commercial Lines Insurance Pricing Survey (CLIPS). The …

How Low Interest Rates Challenge Insurer CFOs, Affect Pricing

Property/casualty insurers say that principal preservation and total return are the most important objectives of their companies’ portfolio management, yet when asked about their satisfaction level with these two investment goals, their responses diverge. In a survey of P/C carriers’ …

Survey: P&C Insurers Expand Usage of Predictive Modeling

Predictive modeling continues to gain momentum among North American property & casualty (P&C) insurers, according to findings from global professional services company Towers Watson’s third predictive modeling survey. The findings show that while the potential to advance critical areas of …

Survey: Commercial Insurance Prices Remain Flat

Commercial insurance prices remained flat for the ninth consecutive quarter, and new data confirm the deterioration of loss ratios in accident-year 2010, according to global professional services company Towers Watson’s most recent Commercial Lines Insurance Pricing Survey (CLIPS). Price reductions …