Towers Watson Issued U.S. patents for Insurance Industry “Smart Modelling” Technique
Global professional services company Towers Watson (NYSE, NASDAQ: TW) announced today that the United States Patent and Trademark Office (USPTO) has issued two key patents for its innovative Replicated Stratified Sampling (RSS) financial modeling technique for the insurance industry. Both patents (U.S. Patent No. 8,126,747, issued February 28, 2012, and U.S. Patent No. 8,131,571, issued March 6, 2012) cover Towers Watson’s RSS smart modeling technique that is intended to dramatically speed up run times for complex insurance calculations and help industry executives better understand risk.