LONDON, 4 February, 2020 — A London-based Willis Towers Watson employee has been announced as the winner of the annual ModelOff World Championship, a global financial modelling competition. Over 2,000 field practitioners and students from all over the world took part in the competition, which was ultimately won by Andrew Ngai, an Associate Director in Willis Towers Watson’s Insurance Consulting and Technology business.
ModelOff 2019 tested the financial modelling skills and knowledge of the participants in different quantitative disciplines, including Financial Analysis, Banking, Insurance, Actuarial, Engineering, Consulting, Accounting, Microsoft Excel and other finance-related practices.
“Andrew’s achievement is a testament to our industry-leading risk analytics and modelling expertise that enables us to make a real impact on the financial performance of the companies we work with.”
Alice Underwood,
Global Leader of Willis Towers Watson’s Insurance Consulting and Technology business
Alice Underwood, Global Leader of Willis Towers Watson’s Insurance Consulting and Technology business, said: “Andrew Ngai was up against some of the best modellers in the world, so we are delighted that his skills and ability were recognised in such a prestigious and tough competition. Andrew’s achievement is a testament to our industry-leading risk analytics and modelling expertise that enables us to make a real impact on the financial performance of the companies that we work with.”
The competition was made up of three consecutive rounds, with the first and second held online simultaneously around the world in November and December 2019, and included real-life financial case studies on a number of topics such as discount cash flow modelling and innovative problem solving in Microsoft Excel.
The top 15 contestants from these two rounds were then flown to London to compete in the live World Finals on 25 January 2020. In this conclusive round, the world’s masters of finance competed for the title of the ‘World’s Brightest Financial Mind’ in front of a judging panel, comprised of a range of industry experts, and were set a variety of challenges testing innovation, speed, data and risk understanding, and best practice modelling theory. The top finalists shared between them $10,000 in cash prizes.
Alongside the success of Andrew Ngai, Chicago-based Nick Komissarov, North American Life M&A Leader at Willis Towers Watson, also successfully reached the competition’s top 50 professional modellers, achieving an impressive global ranking of 45th best modeller in the world. A ‘Rookie’/Student competition ran in parallel to the professional competition, in which Willis Towers Watson intern Matt Farmer achieved an outstanding Top 25 finish.
Willis Towers Watson’s Insurance Consulting and Technology business has over 1,200 colleagues operating in 35 markets worldwide. It is a leading provider of advice, solutions and software – primarily to the insurance industry. Its consulting services help clients manage risk and capital, improve business performance and create competitive advantage – by focusing on financial and regulatory reporting, enterprise risk and capital management, M&A and corporate restructuring, products, pricing, business management and strategy.
Willis Towers Watson (NASDAQ: WLTW) is a leading global advisory, broking and solutions company that helps clients around the world turn risk into a path for growth. With roots dating to 1828, Willis Towers Watson has 45,000 employees serving in more than 140 countries and markets. We design and deliver solutions that manage risk, optimise benefits, cultivate talent, and expand the power of capital to protect and strengthen institutions and individuals. Our unique perspective allows us to see the critical intersections between talent, assets and ideas—the dynamic formula that drives business performance. Together, we unlock potential.
