SRA WATCHTOWER ANNOUNCES STRATEGIC PARTNERSHIP WITH THE IRONWOOD CONSULTING GROUP TO EXTEND ITS INTEGRATED RISK AND PERFORMANCE MANAGEMENT PLATFORM, WATCHTOWER FOR INSURANCE
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Richmond, Virginia, July 13, 2021 - SRA Watchtower, a leading provider of integrated risk and performance management software (“Watchtower”) and consulting solutions, announced today that it has entered into a strategic partnership with The Ironwood Consulting Group, a leading insurance Operations and Risk Management firm. This strategic partnership will extend SRA Watchtower's highly successful integrated risk management solution, Watchtower, to the Insurance industry. Business Risk is increasing across the board, and stakeholders such as Boards and Regulators are becoming increasingly demanding regarding Risk Management reporting and accountability. Watchtower’s P&C solution integrates Industry-specific metrics and competitive data to provide a panoramic view of enterprise risk and world-class reporting to carriers, while breaking down silos across the organization.
“Our innovation, strategic partnerships, and overall customer momentum are critical to driving our growth,” said Michael B. Glotz, Co-founder and CEO of Strategic Risk Associates. “By giving our customers unparalleled insights into their data, we equip them to make real-time decisions and navigate risk. We’re excited to be working with Ironwood and fully expect that the Insurance industry will benefit enormously by leveraging our platform in unique and novel ways.”
Gary Preysner, Managing Partner of Ironwood, commented that the Insurance industry “has a long track record of successfully managing key risk areas, including Pricing, Underwriting, Reserving, etc., but that these ‘pockets of best practices’ often remain siloed.” The industry’s track record is mixed at integrating risks across the enterprise and understanding how those risks affect and interact with each other. “Real time tracking, monitoring, and accountability for risk mitigation are powerful, especially when coupled with competitive peer data,” added Steven Strickman, Ironwood’s Operations Practice Leader. “With Watchtower, Senior Executives and the Board will understand their risk posture and be able to assign top risks to responsible parties for follow through – not just knowledge, but action.”
SRA Watchtower and Ironwood will continue to make significant investments in Watchtower P&C’s Integrated Risk Management (IRM) solutions both through enhancements to Watchtower and integrating leading technology partners. To learn more about Watchtower’s P&C Solution, click here.
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