CPA Mutual Insurance Company of America Risk Retention Group, a member-owned captive insurance company, has selected SunGard's iWorks Enterprise Accounting System (EAS) and iWorks Statutory statement solution to help increase operational efficiencies by consolidating financial processing onto a single platform.
SunGard's insurance solutions will help CPA Mutual access its general ledger, accounts payable, and annual and quarterly statements through one system. In addition, SunGard will help CPA Mutual streamline accounting and statement processing, further increase efficiencies through integration with the company's policy and claims management system, and help support the initiative to bring accounting functions in-house.
Bill Thompson, president of CPA Mutual Insurance Company of America, Risk Retention Group, said, "With SunGard's iWorks, we are able to manage our accounting functions internally and make all of our financial and statements processes seamless. The iWorks EAS and Statutory solutions are intuitive and integrate well with other systems we have in place. SunGard also provides the stability and product commitment we were seeking in a systems provider."
Kevin Singerman, chief operating officer, iWorks Financials, said, "Insurers need greater flexibility in meeting reporting requirements while increasing efficiency and performance of their accounting operations. We're pleased that CPA Mutual has chosen SunGard's iWorks solutions to help simplify financial accounting processes and meet various reporting requirements, while delivering essential functions in an intuitive, integrated environment."