The Texas Farm Bureau Insurance Cos. (Companies), a Waco, Texas corporation that sells and services auto and property insurance to more than 400,000 member families of Texas Farm Bureau, will use SunGard’s iWorks Investment Management solution to help the Companies manage more than $1billion in invested assets, the Companies report. 

SunGard, a provider of insurance technology and services, will provide investment accounting, reporting, portfolio analytics and decision support as well as consulting services to help the companies optimize system configuration, maximize the efficiency of resources and minimize risk.

SunGard’s iWorks Investment Management supports a wide range of investment instruments and includes the ability to process in multiple open periods. It also supports the analysis of investments based on market changes and can support the specific operational, processing and reporting requirements of the Companies. iWorks integrates custodial and market data, which helps ensure alignment with current market conditions. Fully automated, the solution will also help the Companies shorten statutory reporting cycles and improve data accuracy.

Mike Gerik, EVP of the Companies, said, “We turned to SunGard because of its valued expertise and understanding of complex regulations and NAIC rules. We trust SunGard’s ability to deliver a comprehensive solution that can help us transform our business operations through the new functionality iWorks provides as well as its ability to help us make better use of existing resources.”

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