General Insurance Article - Zurich to migrate to iWorks Prophet for Actuarial Modelling

 Zurich Insurance Group has adopted SunGard’s iWorks Prophet Managed Hosted Service (PMHS) across multiple European countries to help enhance the efficiency of its actuarial modelling operations. A long-standing user of iWorks Prophet, Zurich is migrating the Prophet Enterprise platform to iWorks PMHS to help drive smarter operations, by improving the speed of its model analyses and the quality of its Solvency II-compliant reporting. In addition, iWorks Prophet Managed Hosting Service will 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.

 “We chose SunGard because it provides the model operating environment and the supporting infrastructure and services as a consolidated solution under one roof. With SunGard’s iWorks Prophet Managed Hosted Service, we can start working with Prophet Enterprise as a production system very quickly across multiple locations, with minimal disruption to the business. This improved environment will help us focus more on interpreting model output to support our decisions around risk.” – Stephan Ommerborn, head of Global Life Actuarial Services, Zurich Insurance Group

 “Insurers are under pressure to extract ever-greater performance from actuarial models while managing costs. A managed hosted service around an optimized production environment helps insurers build smarter operations that more effectively drive growth.” – Grant Dewar, chief operating officer and executive vice president, SunGard’s insurance business