Towers Watson renew agreement with Tracesmart

Nov. 11, 2013 - PRLog -- Towers Watson, the leading global professional services company, has renewed its agreement to employ Tracesmart’s data management solutions. The contract is for a further three years and includes a range of tracing and identity verification services. The ongoing association builds on an alliance that began in 2010 and will enable Towers Watson to maintain the quality of its clients’ pension scheme data.

Towers Watson will continue to screen their pensioners through Tracesmart’s ‘Existence Alert’ service (http://www.tracesmart.co.uk/services/identify-services/idu-existence-alert-on-going-existence-alerts) and utilise its suite of tracing services to locate lost and ‘gone away’ members. In addition, they will initiate the use of Tracesmart’s unique marriage status prediction service, Risk MSP(http://www.tracesmart.co.uk/services/cleanse-services/risk-msp-marital-status-prediction), developed to help schemes with their de-risking exercises. The new data-enhancing product can strengthen actuarial projections and potentially remove adverse insurer margins.

As one of the UK's leading consumer data specialists, Tracesmart provides people tracing, identity verification, mortality screening and data cleansing (http://www.tracesmart.co.uk/cleanse/data-cleansing) solutions to a large and diverse range of companies and sectors. It is also one of a small number of companies to receive a weekly update of Death Registration Information from the Identity and Passport Service. This information, along with Tracesmart's vast consumer database, drives the company's powerful proprietary facility, Existence Alert, distinctly fulfilling Towers Watson’s requirements.

At a time when The Pensions Regulator is bearing its teeth, pressing the industry to improve data management, Tracesmart is working with the vast majority of third party administrators to advance data quality and governance to further improve member communication and mitigate the risk of fraud.

Commenting on the continuing partnership, Clive Witherington, Head of Business Development for the Technology and Administration Solutions business remarked, “We have been delighted with the support and the relationship with Tracesmart. Most importantly the range of solutions Tracesmart is able to provide has really made a difference to the quality and breadth of the services we can in turn offer to our clients and their scheme members.”

Tracesmart's Managing Director, Mike Trezise added, "We are extremely pleased to be able to perpetuate our partnership with Towers Watson. Our relationship is based on close collaboration and interaction, providing them with a strong platform to deliver a range of intuitive products to their clients. Our Existence services evolved from the need to mitigate fraudulent activity at the earliest possible juncture and along with our pension tracing services, have proved invaluable. We will continue to work hard, to invest heavily in relevant and current consumer data to further prolong our alliance."

ENDS

Notes to editors:

About Tracesmart

Established in 1999 in Cardiff, Tracesmart is a leading provider of consumer intelligence services. Specialists in the provision of both online tracing and identity verification solutions, Tracesmart is prominent in the pension, legal, financial and retail sectors. Its fraud prevention and anti-money laundering solutions are employed by a growing legion of businesses ranging from SME to FTSE 100 listed companies.

Mike Trezise

Founder and Managing Director at Tracesmart, Trezise has extensive experience in tracing, fraud analysis and prevention - knowledge that provides the company with a distinct competitive advantage.

About Towers Watson

Towers Watson (NYSE, NASDAQ- TW) is a leading global professional services company that helps organisations improve performance through effective people, risk and financial management. The company offers solutions in the areas of benefits, talent management, rewards, and risk and capital management. Towers Watson has 14,000 associates around the world and is located on the web at towerswatson.com.