WTW Enhances RiskAgility FM to Meet Full VM-22 Requirements

WTW Enhances RiskAgility FM with Full VM-22 Capabilities

WTW has launched an advanced version of its U.S. Library models within the RiskAgility Financial Modeler, fully integrating the requirements of Valuation Manual 22 (VM-22) for non-variable annuity products. This enhancement equips insurers and reinsurers with a powerful platform to adeptly navigate the VM-22 reserving framework, promoting accuracy and operational efficiency in regulatory compliance.

VM-22 Transformation in Insurance Valuation

VM-22 revolutionizes statutory valuation methods for fixed and indexed annuities, structured settlements, and pension risk transfer liabilities by introducing a market-aligned, principles-based approach. WTW’s updated RiskAgility FM models support this industry-wide transition, offering comprehensive reserving capabilities that underscore the company's commitment to advancing actuarial and risk management technology.

Kim Steiner, North American Life Practice Leader for Insurance Consulting and Technology at WTW, emphasized, "By delivering a complete VM-22-ready model suite, we’re enabling insurers to meet the new standard precisely and advance their transformation towards a sophisticated, future-proof modeling framework."

Advanced Technology for Risk Management

The RiskAgility FM platform is tailored to address complex valuation needs, providing an intuitive environment enhanced with AI for swift development, robust governance features, and superior computational performance. These advancements are structured to help insurers efficiently execute large-scale stochastic and nested-stochastic calculations across varied infrastructure settings.

WTW's Insurance Consulting and Technology division remains at the forefront of delivering innovative solutions to the insurance sector, supporting over 1,000 client companies globally. By incorporating these AI-driven, VM-22-compliant models, WTW reinforces its pledge to assist insurers in adapting to evolving regulatory requirements while optimizing risk management and capital oversight processes.

For further industry insights and developments, visit WTW’s official website at wtwco.com.