Zurich Insurance Group, a multiline insurance provider, has chosen SunGard’s iWorks Prophet Managed Hosted Service (PMHS) to help the efficiency of its actuarial modeling operations. Zurich is migrating the Prophet Enterprise platform to iWorks PMHS to improve the speed of its model analyses and the quality of its Solvency II-compliant reporting.
Zurich says the Prophet Managed Hosting Service is designed to help the firm spend less time on non-value-added IT functions and more time analyzing model results to support risk management and strategic decisions.
Zurich adds that PMHS offers reporting, multi-user management and process automation. Zurich will control iWorks Prophet Enterprise using the solution’s standard web interface. SunGard will manage the infrastructure — including the databases, the web server and the calculation cores — in its secure data centers. Adopting a best-practice approach to actuarial risk modeling will help Zurich’s risk actuaries focus on critical business activities, while SunGard manages the technical operational infrastructure.
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