SunGard has released the accounting component of its iWorks Enterprise Financials solution, a cloud-based and mobile-enabled business intelligence tool that gives insurers the ability to transform raw financial data into actionable insights and timely analysis for investments, risk and compliance.
The accounting component gives chief financial officers the ability to gain greater visibility across their investment portfolios and sub-accounts, as well as transparency into specific portfolios down to the security level. In addition, multiple scorecards, chart and graphs, customizable to the account level, help offer further insight into portfolio positioning, cash flows and income streams.
“Insurers must manage a complex investment landscape and adapt to a changing regulatory environment in order to control risk, protect cash flow and increase revenues. The latest release of iWorks Enterprise Financials is helping insurers gain a deeper understanding of their investment portfolios, historical income trends, and potential changes to cash flow, while improving ROI from their compliance and risk management efforts”, John Vercellino, vice president, product management, SunGard’s iWorks Financials insurance solutions
“I’ve been impressed with SunGard’s innovation team – they know the insurance business, they understand our unique challenges, and they consistently deliver new tools to help me manage the company’s investment portfolios. As a result, we’ll be using iWorks Enterprise Financials extensively in our day-to-day business” , Ramsey Ross, assistant vice president and treasurer, Union Labor Life, a subsidiary of Ullico Inc.
iWorks Enterprise Financials also features a compliance component, providing an at-a-glance, three-dimensional view of NAIC guidelines, most state regulations, and the insurer’s company investment policy guidelines.