The winner of the regulatory reporting software of the year award goes to WTW for its RiskAgility Financial Modeler, which has also won the award for actuarial modelling solution of the year.

The introduction of the VM-22 framework in the US represents a significant shift in US statutory reserving for non-variable annuities, requiring insurers to move from formula-based approaches to principle-based calculations. This includes deterministic and stochastic reserve requirements, as well as dynamic asset-liability modeling, introducing substantial operational and computational challenges. It is an introduction that many insurers have found difficulty implementing in practice.

In response, WTW's RiskAgility has enabled insurers to operationalise VM-22 for non-variable annuities, transforming a highly complex and computationally intensive regulation into a scalable and production-ready reporting process.

The firm's US libraries provide full functionality for producing VM-22 reserves, including deterministic and stochastic reserve calculations, integrated asset modeling, and robust reinvestment and asset-liability management logic. The platform supports projections at product, segment, and company levels, enabling flexible aggregation and reporting aligned with regulatory requirements.

The platform also comes with end-to-end VM-22 capability, advanced calculation engines that significantly reduce runtimes, and flexible assumption management and outputs.