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Towers Perrin is in the Business Services Industry
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Risk Management In Strategic Decision Making
Risk management is not new. Insurance companies have been doing it for centuries. Unfortunately, they do not have an exemplary track record, as losses over the past decade have shown. Some risks have been badly managed and others completely overlooked. However, the industry's position has been changing rapidly over the...
Operational Due Diligence for Value
With hedge fund assets bulging and private equity firms proliferating, investor interest in the Property/Casualty (P/C) insurance industry is growing. As insurance companies find fewer opportunities for organic growth, internal strategic interest in acquisitions is also heating up. In this environment, some companies are evaluating whether this is the right...
A Principles-Based Reserves and Capital Standard: A New Standard for Determining Capital and Reserves Will Reshape the U.S. Life Insurance Business and Change the Competitive Landscape
The introduction of a Principles-Based Approach PBA to determine statutory reserves and minimum capital for all life and annuity business represents a watershed event for the U.S. life insurance industry. It comes as other parts of the world proceed on different paths toward a global standard that replaces fixed ratios...
Are You Prepared for the Financial Impact of Retained Terrorism Losses? TRIEA Retention Terrorism Reinsurance Facility
The need for a TRIEA Retention Terrorism Reinsurance Facility has never been more urgent. Though the federal government provides a backstop, the retained portion for carriers is climbing. Rating agencies, equity analysts and boards of directors have growing concerns that these increased retentions, coupled with certain uncovered lines, could have...
Onboarding Gives Employers Attractive Tool for New Talent
Onboarding is a process to exchange information with new hires and transfers, with the help of a Web site, to prepare them for their first day on the job. When it's done right, onboarding makes use of leading technology to enhance the new-hire experience, capture data to deliver HR services...
Companies Taking Different Approaches to Talent Management
Employers in a variety of businesses place a high priority on talent management to meet growing workforce needs. At the same time, when it comes to developing and deploying a coherent talent management strategy, most companies are still feeling their way. They don't have a designated HR person to manage...
Talent Management: The State of the Art
complex environment. The changing nature of the workplace and workforce - characterized by continual movements of jobs and people around the world - calls for a highly planned and rigorous approach to identifying, developing, deploying and rewarding talent. To evaluate the current state of the art in this area, Towers...
Winning Strategies for a Global Workforce: Attracting, Retaining and Engaging Employees for Competitive Advantage
The Towers Perrin Workforce Study was fielded via the Web by Harris Interactive in June and July of 2005 using a standard questionnaire translated into local languages. Roughly 86,000 employees around the world completed the survey, all of whom were employed full time by midsize to large organizations. Key statistics...
HR Service Delivery: Connecting People, Process and Performance
For eight years, Towers Perrin has conducted and published detailed research on HR service delivery strategy trends, processes and technology. Over that time, they have identified and described important trends in HR service delivery, including the advent of self-service and the exponential growth in the use of the Web. Tower...
Employers Are Revisiting Their Long-Term Retiree Medical Strategies
Now that most employers have completed the flurry of activities involved in qualifying for the Medicare prescription drug subsidy, they're stepping back to evaluate their broader retiree medical commitments. While the majority of large employers want to provide meaningful benefits to both actives and retirees, many can no longer commit...
Third Quarter 2005 Results for Defined Benefit Pension Plans in Selected Countries
This article reviews how global capital market performance in the third quarter of 2005 affected pension plans in major retirement markets worldwide. The impact of capital markets on these pension plans is twofold: On fund assets as a direct result of investment performance and on plan liabilities (as measured under...
Elevate Claim Performance Via Technology
Over the last decade, insurers have responded to competitive pressures by emphasizing tighter expense management and pricing segmentation as key strategies leading to profitability. Top-performing carriers have also turned to data and technology, seeking opportunities to automate work, outsource noncore functions to lower cost resources, or internally shift work and...
Gaining Position With Technology
Telematics, the use of wireless communications and Global Positioning System GPS tracking, may change the way automobile insurance, both personal and commercial, is priced. Individual rating of a driver, to supplement class rating, now appears to be feasible. The paper highlights the profound changes in auto insurance market leadership that...
Value-Added Reserving
Property/casualty (P/C) loss reserves are usually by far the single largest liability on the balance sheet, and most companies spend significant resources analyzing them. However, opportunities to improve the bottom line are often missed because carriers treat reserve setting as largely a compliance process and a financial function, isolated from...
New NAIC Reporting Requirements for Risk Transfer
In response to increased focus on structured insurance and reinsurance contracts, a number of organizations have studied issues surrounding risk transfer. The U.S. National Association of Insurance Commissioners NAIC has approved several reporting requirements that will take effect for 2005. The newly required disclosures consist of three parts: additional General...
Life Insurance CFO Survey 12: Investment Risk Management
Investment risks represent a major financial risk exposure to life insurers. The survey depicted in this paper finds that companies' overall approaches to investment risk management remain fairly traditional. Even so, insurers are beginning to use sophisticated tools and techniques to measure and model investment risk. They are also relying...
2005 Stop Loss Survey Report
Stop loss premium rates increased an average of 15% from January 2004 to January 2005. This paper presents a survey that talk about several underlying trends that will continue to drive costs upwards. Meanwhile, some stop loss insurers are pursuing strategies to offset premium increases or even reduce premium outlays....
Hurricane Katrina: Analysis of the Impact on the Insurance Industry
Towers Perrin estimates direct industry loss from Katrina at $40 to $55 billion as of September 30, 2005. This paper presents an analysis which includes line-of business estimates; how losses will be split among insurers, reinsurers and capital markets; a look at hurricane frequency and severity; risk management implications; and...
Preparing for C-3 Phase II RBC - From Development to Implementation
The move to C-3 Phase II RBC is a significant undertaking that will require input from several areas of the company. This article summarizes changes in C-3 Phase II RBC and discusses the implications for life insurers. RBC C-3 Phase II refers to the National Association of Insurance Commissioners (NAIC's)...
Getting a Better Handle on Older Age Mortality
Longer life spans have resulted in a growing elderly population, a growth that has fueled an increase in life insurance coverage at older ages. Companies need a better handle on the level of mortality they can expect at older ages to improve underwriting practice. Fortunately, extensive and detailed new data...
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Towers Perrin Company Info
NAICS Code
Administrative Management and General Management Consulting Services: 541611
