ATLANTA and REGINA, Oct. 23 /CNW/ - Canada's Co-operators Life Insurance Company has selected SunGard's iWorks solution suite as its enterprise platform for core policy administration of its group benefit business. SunGard's iWorks Compass will provide Co-operators Life with a single platform for administering its current group benefits, as well as provide for future expansion of group business by offering support for group wealth products as well as voluntary products such as individual life, wealth and travel.
SunGard Consulting Services will work with Co-operators Life to help optimize process efficiency by implementing best practices for policy administration processes in conjunction with the specific processing needs of The Co-operators' group business.
"We selected SunGard's iWorks to help us grow our group business," said Judy Grant, vice-president of group benefits at Co-operators Life. "The integrated iWorks solution suite, consulting services and industry expertise will help us reduce our processing costs while increasing our capabilities."
Conor Quinn, director of client services, operations, added, "SunGard's iWorks is a client-centric solution that will help Co-operators Life expand our group benefits products, services and markets without the need for additional core policy administration systems."
Co-operators Life offers a complete range of group benefit products throughout Canada.
Greg Webber, president of SunGard's insurance business, said, "The Co-operators' selection of SunGard's iWorks reflects our continued focus on the group and worksite industry in Canada. SunGard's iWorks helps insurers achieve greater agility and resilience by providing a solution suite that can easily adapt to changing business conditions and operational requirements."
About Co-operators Life Insurance Company
Co-operators Life Insurance Company, with its head office in Regina, is a part of The Co-operators - a group of Canadian companies offering home, auto, life, group, travel, commercial and farm insurance, as well as investment products. The Co-operators Group Limited is a 100 per cent Canadian-owned co-operative with assets of more than CDN $7 billion. It is owned by a group of Canadian co-operatives, credit union centrals and like-minded organizations. The Co-operators is well known for its community involvement, and is listed among the 50 Best Employers in Canada.
About SunGard iWorks
SunGard iWorks is a business-driven IT product suite 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 aligns with changing business and regulatory needs.
SunGard is one of the world's leading software and IT services companies. SunGard serves more than 25,000 customers in more than 70 countries.
SunGard provides software and processing solutions for financial services, higher education and the public sector. SunGard also provides disaster recovery services, managed IT services, information availability consulting services and business continuity management software.
With annual revenue exceeding $5 billion, SunGard is ranked 435 on the Fortune 500 and is the largest privately held business software and services company on the Forbes list of private businesses.
Based on information compiled by Datamonitor*, SunGard is the third largest provider of business applications software after Oracle and SAP.
Continuity, Insurance & Risk has recognized SunGard as service provider of the year an unprecedented six times. For more information, please visit SunGard at www.sungard.com.
*January 2009 Technology Vendors Financial Database Tracker
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SOURCE The Co-operators
For further information: For further information: Adriana Senior, vice president, Media Relations, SunGard Financial Systems, Tel: (718) 578-1130, firstname.lastname@example.org