Tillinghast is the world's largest actuarial practice focused on insurance [cite web | url=http://www.towersperrin.com/tp/jsp/tillinghast_webcache_html.jsp?webc=Tillinghast/United_States/Press_Releases/2006/20061010/2006_10_10.htm&selected=press | title=Tillinghast press release] and a unit of
Towers Perrinspecializing in risk management and actuarial consulting. The Tillinghast business of Towers Perrinprovides consulting and software solutions to insuranceand financial servicescompanies and advises other organizations on risk financing and self-insurance. [cite web | url=http://www.towersperrin.com/tp/jsp/masterbrand_html.jsp?webc=176/global/about/about.htm&selected=about | title=Towers Perrin website ]
In 1986, Atlanta-based Tillinghast, Nelson & Warren Inc., then the nation's largest independent
risk managementconsultant [cite web | url=http://www.answers.com/topic/towers-perrin?cat=biz-fin | title=Towers Perrin: Information and Much More ] , merged with Towers, Perrin, Forster & Crosby, Inc (TPF & C). The company was restructured assigning Tillinghast's benefits practice to TPF & C and TPF & C's risk managementpractice to Tillinghast. The following year in 1987, the firm was rebranded under the name Towers Perrin[cite web | url=http://www.towersperrin.com/tp/jsp/masterbrand_html.jsp?webc=176/global/about/history.htm&selected=about | title=About Towers Perrin - History] by which it is still known. Today, Tillinghast, HR Services, and Reinsuranceare the three businesses of Towers Perrin.
Products and Services
Mergers, Acquisitions, and Restructuring
Tillinghast advises clients on merger and acquisition transactions by planning and developing acquisition strategy, providing actuarial appraisals, and forecasting changes to
shareholder valueand reactions from rating agencies
Risk Management Services
risk managementservices including risk management process assessment and benchmarking, insurance marketing assistance and vendor selection, claims management effectiveness, risk management organizational effectiveness, risk management information system (RMIS) needs assessments, system selection and implementation support, workers' compensationcost management/integrated disability management, and enterprise risk management (ERM). Tillinghast's risk management services clients include 71 of the Fortune Global 500companies.cite web | url=http://www.towersperrin.com/tp/jsp/tillinghast_serviceoffering.jsp?service=04247&selected=services | title=Tillinghast Service Offerings ]
Risk Financing Assistance
Tillinghast performs reviews on clients' risk financing programs to determine ideal coverage and present cost-efficient solutions, as well as assisting in implementing the programs. These services can be provided either as a one-time project or in an ongoing advisory capacity, on the entire risk financing programs, or on a single risk issue.
Captive Insurance Company Consulting
Tillinghast offers specialized consulting to companies considering or operating
captive insurancecompanies and other alternate risk vehicles including services such as feasibility studies, implementation assistance, and ongoing actuarial support and strategic planning. Tillinghast publishes a Captive Insurance Company Glossary [cite web | url=http://www.towersperrin.com/tillinghast/publications/reports/Captive_Insurance_Glossary/Captive_Insurance_Company_Glossary.pdf | title=Captive Insurance Company Glossary ] and a monthly newsletter Captive Insurance Company Reports [cite web | url=http://www.towersperrin.com/tillinghast/publications/publications/cicr/main_issue/Publications_CICR.htm | title=Captive Insurance Company Reports] .
Tillinghast is the leading global actuarial consulting firm and the largest consulting employer of qualified casualty actuaries.cite web | url=http://www.towersperrin.com/tp/jsp/tillinghast_serviceoffering.jsp?service=04247&selected=services | title=Tillinghast Service Offerings ] Actuarial consulting services include funding/pricing analysis, loss reserve and financial statement accruals, retention analysis, premium/cost-allocation models, product development, comparative cost benchmarking, and financial modeling.
Financial Modeling Software
*"RiskAgility": Tillinghast's new software framework for risk management built from the ground up using current
Microsoftsoftware to take advantage of the latest advances in technology.
*"MoSes": originally developed by
Australia-based Classic Solutions which merged with Tillinghast in 2002, MoSes provides a single common platform for many financial models. MoSes features transparency in its calculations for ease of auditing.
*"TAS Tillinghast Actuarial Software": a software package layer over the MoSes platform for analysis and reporting of life and annuity insurance products
*"TAS P/C Tillinghast Actuarial Software": property and casualty-specific software package
*"Economic Scenario Generators": including real-world and market-consistent approaches for financial analysis
Recent Notable Awards
* "Best Consultancy of the Year" by Reactions Magazine, 2007 [cite web | url=http://www.reactionsnet.com/default.asp?Page=14&PUB=19&SID=692643&ISS=23955&GUID=810B1962-F61D-46D6-9565-63FF2B35CE8F&LS=awards2007 | title=The world's best insurance companies and executives revealed at Reactions Global Awards Dinner ]
* "Top Consultancy Firm for 2005" by U.S. Insurer, 2005
* "Consultancy of the Year" for Services to the Re/Insurance Industry by Reactions Magazine, 2005 [cite web | url=http://www.reactionsnet.com/default.asp?Page=8&PUB=92&ISS=20243&SID=578697 | title=Reactions Reinsurance Awards 2005 ]
* "Consultancy of the Year" for Services to the Re/Insurance Industry by Reactions Magazine, 2004 [cite web | url=http://www.reactionsnet.com/default.asp?Page=8&PUB=92&ISS=10956&SID=433539 | title=Reactions Reinsurance Awards 2004 ]
Notes and references
* [http://www.towersperrin.com/ Towers Perrin] - Official Towers Perrin Website
* [http://www.towersperrin.com/tillinghast/ Tillinghast] - Tillinghast home page
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