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SunGard’s iWorks Prophet positioned as a Category Leader in Chartis RiskTech Quadrant® for Solvency II Technology

SunGard’s iWorks Prophet actuarial modeling solution has been named a category leader in Chartis’s RiskTech Quadrant® for Solvency II Technology Solutions published in January 2014.

An update of Chartis’ previous Solvency II report published in 2011, the report covers both the demand and supply-side of the Solvency II technology market, includes new information on industry trends and business requirements, and examines the main market and regulatory requirements and the competitive landscape. Chartis’ RiskTech Quadrant uses a comprehensive methodology of in-depth independent research, a clear scoring system and a sophisticated ranking methodology to explain which solutions would be best for buyers, depending on their implementation strategies.

“SunGard has demonstrated completeness of offering with the necessary depth and breadth of functionality, technology and content, as well as a clear strategy for sustainable, profitable growth, matched with best-in-class solutions. Firms need flexible solutions to keep up with their requirements and the ongoing development of the Solvency II rules. SunGard’s component-based approach to its risk management solutions facilitates flexibility in how they are implemented by customers, while also providing an enterprise-wide approach to risk management”, Peyman Mestchian, managing partner, Chartis.

“Insurers are increasingly looking for comprehensive solutions to help meet their risk modelling and reporting needs. Our customers expect a broad suite of models to be complemented by other important capabilities, including flexible data management and business intelligence. But it is vital to look beyond regulatory compliance - effective risk management helps insurers sustain a profitable and competitive business. We look forward to continuing to support the industry with innovations that will help insurers bolster growth and competitive advantage”, Grant Dewar, COO and EVP, SunGard’s insurance business.

Chartis is the leading provider of research and analysis on the global market for risk technology. Its goal is to support enterprises as they drive business performance through better risk management, corporate governance and compliance. Chartis helps clients make informed technology and business decisions by providing in-depth analysis and actionable advice on virtually all aspects of risk technology.

RiskTech QuadrantTM is a registered trade mark of Chartis Research limited. Chartis Research is authorized and regulated by the Financial Conduct Authority (FCA) for providing investment advice.