SunGard today announced that the Principal Financial Group has gone live with SunGard's iWORKS COMPASS, a group and individual insurance, pension and investment product administration system.
In 2005, the Principal Financial Group selected iWORKS COMPASS to help support new product development and administration and to help manage its group life, disability, dental, vision and voluntary product offerings. After a very thorough due diligence process, iWORKS COMPASS was selected as the strategic platform for the Principal Financial Group to rapidly deploy new products, provide product flexibility, and implement best practices in order to help meet the company's growth and service objectives.
According to Doug Fick, chief information officer for the Specialty Benefits Division of the Principal Financial Group, "We continually adapt our computer technology platforms to meet or exceed industry demands and to facilitate our aggressive growth strategy. Because of SunGard's proven reputation, flexible application and quality products we look forward to iWORKS COMPASS supporting us in achieving our service goals and growth strategy."
Greg Webber, president of SunGard's iWORKS business unit, said, "We are pleased to support the Principal Financial Group in its efforts to introduce new products, convert existing blocks of business, and implement its industry leading best practices within the iWORKS COMPASS solution. The Principal Financial Group has been a valuable and respected strategic partner in leveraging SunGard's iWORKS NAVIGATOR and EXP Insurance products, and we look forward to building upon our long-term relationship with iWORKS COMPASS as their strategic platform."