SunGard, a software and technology service provider, teamed with Microsoft and HP to create an enterprise risk management (ERM) framework designed to support insurance companies’ compliance with the implementation of Solvency II. The regulations, effective in 2012, are aimed at strengthening requirements for capital adequacy and risk management for life and non-life insurers and reinsurers in the European Union.
The new framework is comprised of SunGard’s iWorks ERM solution, HP’s consulting services and infrastructure portfolio, and Microsoft’s HPC and SQL servers.
SunGard’s iWorks Prophet Enterprise will be deployed on to HP’s infrastructure technology including desktops, servers and storage. Within the framework, the company said HP’s business intelligence, application modernization and business transformation services supports local business expertise as well as global customer care. Microsoft’s HPC Server and SQL Server serve as the platform to calculate risk models, the HPC Server is designed to reduce the cost of running data over a large scale clusters and grids, the SQL Server provides data management and the SQL Server Data Analytics Services provides analytics.
The ERM framework was introduced at Microsoft’s Worldwide Partner Conference in Washington, from July 11-15, 2010.
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