In order to remain competitive and react quickly to market changes, carriers must optimize the efficiency of their investment portfolios while improving business processes. The Companies selected SunGard for its understanding of the unique insurance regulatory landscape and its ability to provide expert business transformation services that will help the Companies streamline operations and reduce costs.
SunGardâs iWorks Investment Management supports a wide range of investment instruments and includes the ability to process in multiple open periods. It also supports the analysis of investments based on market changes and can support the specific operational, processing and reporting requirements of the Companies. iWorks integrates custodial and market data, which helps ensure alignment with current market conditions. As a fully automated solution, iWorks will also help the Companies shorten statutory reporting cycles and improve data accuracy.
Mike Gerik, executive vice president of the Companies, said, âWe turned to SunGard because of its valued expertise and understanding of complex regulations and NAIC rules. We trust SunGardâs ability to deliver a comprehensive solution that can help us transform our business operations through the new functionality iWorks provides as well as its ability to help us make better use of existing resources.â
Greg Webber, president of SunGardâs insurance business, said, âSunGardâs iWorks can help the Companies simplify investment accounting processes and provide management with accurate and timely investment data for enhanced decision making. SunGardâs iWorks helps insurers achieve greater agility and resilience by providing a solution suite that can easily adapt to changing business conditions and operational requirements.â