Future Generali India Life Insurance Company Limited ImplementsSunGard’s iWorks to Help Improve Risk Management

Future Generali Indiahas completed its implementation of SunGard’s iWorks Prophet, helping it improve the accuracy of predictive analytics. iWorks Prophet is a risk management solution used by worldwide insurers for actuarial modeling and risk reporting. Stricter regulations requiring more robust risk management systems prompted Future Generali to implement iWorks Prophet to help it speed up the product development process, better manage product design, and enhance pricing accuracy.

Mr. Gorakhnath Agarwal, chief actuary at Future Generali India, said, “SunGard’s iWorks Prophet is helping us improve risk management by providing a consistent product pricing process that is efficient and competitive. During these times of regulatory, economic and environmental volatility, it is important to create and maintain a well-balanced product portfolio, which iWorks Prophet is helping us achieve. Training and support from SunGard in India has also been very effective and reliable.”

Atul Sareen, managing director, SunGard India, said, “We are pleased with the decision of Future Generali India to use the iWorks Prophet solution for better risk assessment and actuarial excellence. Newer entrants in the Indian insurance industry like Future Generali India can rely on SunGard’s iWorks Prophet to help them apply the rigour of mathematical and statistical modeling on data accumulated over the past decades. That, coupled with SunGard’s local industry expertise and relationships with the regulator as well as industry think tanks will help Future Generali guard against undue risk.”