Unum, one of the leading providers of financial protection benefits in the US and the UK, has chosen SunGard’s iWorks Prophet actuarial modeling and risk management solution to help improve the efficiency of its actuaries, provide greater insight into the financial state of its business, and comply with the anticipated International Financial Reporting Standards (IFRS).
"Unum is undergoing a transformation of its financial analysis capabilities which includes establishing more innovative processes for our actuarial systems as well as governance. SunGard’s iWorks Prophet helps to support these initiatives by centralizing and standardizing actuarial practices across multiple business lines, and helping us establish governance and visibility over financial risk. We chose SunGard for its innovation and expertise in actuarial science and technology, and its demonstrated willingness to help support our business over the long term.” – Nigel Moodley, vice president of risk modeling & financial plannin g at Unum
Unum will implement iWorks Prophet Professional, an actuarial risk model development environment replacing multiple third-party and in-house applications, manual calculations and spreadsheets. Unum will also use iWorks Prophet Enterprise risk management platform, which extends these capabilities to a production environment to deliver consistent, controlled and auditable results, and a unified view of the company’s financial risk profile.