Atlanta, GA � February 22, 2007 � SunGard today announced the availability of SunGard iWORKS ProSume, an assumed reinsurance administration solution supporting professional organizations with assumed reinsurance business. SunGard iWORKS reinsurance solutions support the assumed and ceded reinsurance process for general insurance carriers and professional reinsurers. These global solutions are designed to meet the demands of the reinsurance professional regardless of geography and complexity.
ProSume administers assumed (inwards) premiums and losses for all types of treaties and facultative contracts. ProSume also provides cash management capabilities and makes available controls for receivables and payables balance as well as retrocessional reinsurance administration. ProSume can be installed as a stand alone solution or in conjunction with SunGard iWORKS ProCede Advantage, a ceded and retrocessional reinsurance administration solution.
Mike Dropkin, executive vice president of SunGard�s iWORKS business unit, commented, �We have leveraged our industry expertise and proven technology to help make ProSume work effectively for our customers. It helps our customers to better manage their reinsurance portfolios, from submission to contract administration, claims tracking and premium accounting. ProSume is a strong addition to our reinsurance solutions which are field-proven, robust and reliable applications that can scale to handle large groups.
About SunGard iWORKS
SunGard�s iWORKS is a business-driven IT product family for the insurance industry in each of the following major business lines: life/health/annuities/pensions, property and casualty and reinsurance. SunGard iWORKS offers a range of products and services including front-office tools, policy administration, reinsurance, actuarial calculations, financial accounting, investment accounting, and reporting. SunGard partners with customers to deliver products and services that align with changing business and regulatory needs. For more information, visit http://www.sungard.com/iworks
With annual revenue of $4 billion, SunGard is a global leader in software and processing solutions for financial services, higher education and the public sector. SunGard also helps information-dependent enterprises of all types to ensure the continuity of their business. SunGard serves more than 25,000 customers in more than 50 countries, including the world�s 50 largest financial services companies. Visit SunGard at www.sungard.com