Unum has chosen SunGard’s iWorks Prophet actuarial modeling and risk management solution in an attempt to improve the efficiency of its actuaries, provide greater insight into the financial state of its business and comply with the anticipated International Financial Reporting Standards (IFRS), Unum said.
"Unum is undergoing a transformation of its financial analysis capabilities that includes establishing more innovative processes for our actuarial systems as well as governance,” said Nigel Moodley, VP of risk modeling & financial planning at Unum. “SunGard’s iWorks Prophet helps to support these initiatives by centralizing and standardizing actuarial practices across multiple business lines, and helping us establish governance and visibility over financial risk.”
Unum says that iWorks Prophet Professional, an actuarial risk model development environment, will replace multiple third-party and in-house applications, manual calculations and spreadsheets. Unum also will use iWorks Prophet Enterprise risk management platform, which extends these capabilities to a production environment to deliver consistent, controlled and auditable results, and a unified view of the company’s financial risk profile.
Register or login for access to this item and much more
All Digital Insurance content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access