ITM has secured a contract with Towers Watson that will see the latter granted the right to use the data specialist’s eDAaRT software to identify incomplete or unreliable data and prepare tailored pension plans to address deficiencies for UK pension schemes.

ITM’s eDAaRT software provides a wide range of data analytic functionality covering a number of scheme scenarios from regulatory compliance to de-risking exercises.

The software also permits benchmarking the quality of data at a given point and reports on improvements over time. This allows accurate and efficient data cleansing projects, which will ensure that good data quality is maintained.

Towers Watson senior consultant Philip Titchener commented: “We expect this new software will work well for both our trustee and corporate clients who are looking for an independent review of the data held by their administrator, especially where good data leads to increased accuracy in areas such as actuarial valuations and enables pension scheme de-risking to take place more quickly.”

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