Towers Watson (TW) Gets Patent for RSS Financial Modeling Technique

Global professional services company Towers Watson (NYSE: 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.

The Towers Watson RSS modeling technique uses statistical sampling to accurately measure changes in risk metrics while producing dramatic reductions in run time. Sampling has long been used in other industries, in applications as familiar as television ratings and consumer polls. But in the insurance industry, where access to the full population of contracts is not a barrier, sampling has not been commonly used in the past.

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