Atlanta, GA – January 16, 2008 – SunGard today announced that The Harford Mutual Insurance Company has selected SunGard™s iWORKS Premium Billing Solution (PBS), an enterprise-wide billing system for the property and casualty industry.
The Harford Mutual Insurance Company selected SunGard™s iWORKS PBS to help it streamline its billing and collection of premiums and to help it increase efficiency and reduce costs through system automation. The Harford Mutual Insurance Company will use the system to bill all of its companies, and all of their affiliates, while using any combination of billing methodologies, all within one installation of the system. The system will provide comprehensive commissions, code and rules-based payment plans and fee structures, as well as XML system to system integration.
Stephen Fabian, The Harford Mutual Insurance Company™s director of information technology, said, We chose SunGard because of its experience in the industry, its service-oriented staff, and its responsiveness in adapting the solution to meet our requirements and the needs of our customers. We also have confidence in SunGard™s proven ability to deliver a cost-effective, on-time implementation.
Greg Webber, president of SunGard™s insurance business, said, We are very pleased to announce the addition of The Harford Mutual Insurance Company to SunGard™s iWORKS PBS customer base. We are pleased with the working relationship we have established with The Harford Mutual Insurance Company through the selection process and look forward to enhancing this relationship as we move forward in implementing and supporting the system.
About The Harford Mutual Insurance Company
The Harford Mutual Insurance Company, founded in 1842 in Harford County, Maryland, provides property and casualty insurance products and services to a regional market. Our efforts allow policyholders to conduct their business and personal matters with the knowledge that they are protected by a financially-strong and established insurer. We strive for profitable growth through a commitment to individualized customer service and by providing the independent agent with a stable market for quality insurance products.
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.