London, July 12, 2007 – SunGard today announced the launch of iWORKS Prophet Enterprise, the new edition of SunGard’s actuarial modelling system, iWORKS Prophet, which helps insurance and other financial services companies meet their reporting responsibilities and improve risk management. Prophet Enterprise adds a separate, flexible, robust and fully auditable production control framework, to help customers improve the performance, scaleability, control and auditability of their actuarial modelling. It will also help customers to rationalize hardware and IT support costs while reducing actuaries’ administrative data work so that they can concentrate on actuarial work.
iWORKS Prophet Enterprise has a client-server architecture, through which company-critical calculations can be moved away from a desktop to a secure server environment for multi-user access from anywhere in the world. The architecture supports centralised processing for multinational companies that need to support separate business units or departments across an organisation. iWORKS Prophet Enterprise utilizes a distributed processing environment, to help increase the scaleability of parallel runs, maximise hardware utilisation and provide quicker, smoother and more automated results for faster and more efficient reporting.
The existing iWORKS Prophet system, the Professional edition, will continue to be SunGard’s core actuarial modelling product offering for model building. Once models have been developed and signed off using Prophet Professional, they can be exported to Prophet Enterprise, within which runs are set up, executed, monitored and reported upon.
Marc Fakkel, head of operations for SunGard’s iWORKS Prophet business unit, said, “SunGard’s deep industry expertise, along with the collaboration of a leading UK insurance company, has helped us to design and build the iWORKS Prophet Enterprise solution to help our customers work more effectively and better manage run-time and reporting deadlines.”
About SunGard iWORKS
SunGard 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. iWORKS offers a range of products and services including front-office tools, policy administration, reinsurance, actuarial modelling, financial and investment accounting and reporting. SunGard partners with customers to help deliver products and services that align with changing business and regulatory needs. SunGard serves more than 2,500 customer sites in more than 50 countries worldwide. Visit www.sungard.com/iWORKS
With annual revenue exceeding $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.