Atlanta, GA � August 13, 2007 � SunGard today announced that Colonial Life & Accident Insurance Company has selected SunGards iWORKS NAVIGATOR, a life insurance and annuity illustration system. SunGard’s iWORKS NAVIGATOR Illustrations is an integrated, Web-based or desktop solution that helps to enhance the sales process and incorporates functionality for life insurance and annuity illustrations and quotes.
Colonial Life & Accident Insurance Company (Colonial), with national headquarters in Columbia, S.C., will use SunGard’s iWORKS NAVIGATOR to illustrate its universal life products. iWORKS NAVIGATOR will be added to the company’s business workflow, integrating with two existing systems, the new business and policy issue systems. By integrating with these two systems, iWORKS NAVIGATOR will be able to issue policies after generating the illustration. Colonial will also use SunGard’s co-designer authoring tools to help develop and modify products. The co-designer tools will assist Colonial with cloning existing products, making rate changes, changing product input screens and modifying presentations.
David Bateman, Colonial’s systems project leader, said, “We chose SunGard because of its experience in the industry, its service-oriented staff, and its responsiveness in tailoring the solution to meet our needs. We also have confidence in SunGard’s proven ability to deliver a cost-effective, on-time implementation of iWORKS NAVIGATOR. By providing the illustration piece to our business workflow, SunGard’s iWORKS NAVIGATOR will help us reach our long-term goals of growing our business and staying competitive.”
Greg Webber, president of SunGard’s insurance business, said, “Colonial’s selection of SunGard’s IWORKS NAVIGATOR to help it reach its growth initiatives is further validation of the effectiveness of iWORKS in helping companies to introduce new and innovative insurance products.”
About Colonial Life & Accident Insurance Company
Colonial Life & Accident Insurance Company is a market leader in providing voluntary insurance to employees and their families through the workplace, along with personal benefits communication, enrollment capabilities and a commitment to service. Colonial products include a broad portfolio of insurance coverages, such as disability, life, and supplemental accident and health insurance policies. Similar products, if approved, are underwritten in New York by a Colonial affiliate, The Paul Revere Life Insurance Company. Colonial is based in Columbia, S.C. and has been named one of the top four best large companies to work for in South Carolina. A subsidiary of Unum Group, Colonial operates in 49 states, the District of Columbia and Puerto Rico.
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 calculations, financial accounting, investment accounting, and reporting. SunGard partners with customers to deliver products and services that align with changing business and regulatory needs.
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 and see SunGards iWORKS NAVIGATOR at http://www.sungard.com/iWORKSnavigator.