WTW adds AI assistant to RiskAgility FM for actuarial model builds
The assistant can plan, build and test life insurance models from a specification, then document the work for actuaries to review.
WTW has added a semi-autonomous AI assistant to its RiskAgility Financial Modeler platform so life insurance actuarial teams can delegate connected modelling and testing tasks within a governed system.
The assistant can take an unfamiliar product, methodology or migration specification and interpret the requirements, plan the work, build or adapt a model, execute runs, investigate problems and document the result for expert review, WTW said on 19 October.
RiskAgility Financial Modeler is WTW's life insurance modelling and financial reporting platform. The company said its governance controls ensure that "actuarial judgement and approval remain firmly with the human team".
WTW said the assistant can support model migrations and implement product, regulatory and methodology changes. It can also run regression and sensitivity tests, diagnose failed checks and prepare evidence for review.
"AI assistance in modeling is rapidly becoming commonplace," said Mark Brown, global proposition lead for life financial modelling in WTW's Insurance Consulting and Technology business. "The real differentiator is no longer whether AI can answer natural-language questions or generate code, but whether it can deliver a coherent modeling outcome."
Brown presented migration as a central use case. Recreating and validating complex models on a new system can require substantial cost, capacity and time, he said.
"The RiskAgility FM AI Assistant changes the economics of model delivery," Brown said.
He added: "For insurers, this can compress the path from requirement to tested implementation."
WTW's Insurance Consulting and Technology business has more than 1,700 staff in 35 markets. The company said more than 1,000 insurers across six continents use its software and advice.
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