SunGard upgrades iWORKS Prophet product
12 July 2007 | 2218 views | 0
SunGard today announced the launch of iWORKS Prophet Enterprise, the new edition of SunGard's actuarial modelling system, iWORKS Prophet, which helps insurance and other financial services companies meet their reporting responsibilities and improve risk management.
Prophet Enterprise adds a separate, flexible, robust and fully auditable production control framework, to help customers improve the performance, scaleability, control and auditability of their actuarial modelling. It will also help customers to rationalize hardware and IT support costs while reducing actuaries' administrative data work so that they can concentrate on actuarial work.
iWORKS Prophet Enterprise has a client-server architecture, through which company-critical calculations can be moved away from a desktop to a secure server environment for multi-user access from anywhere in the world. The architecture supports centralised processing for multinational companies that need to support separate business units or departments across an organisation. iWORKS Prophet Enterprise utilizes a distributed processing environment, to help increase the scaleability of parallel runs, maximise hardware utilisation and provide quicker, smoother and more automated results for faster and more efficient reporting.
The existing iWORKS Prophet system, the Professional edition, will continue to be SunGard's core actuarial modelling product offering for model building. Once models have been developed and signed off using Prophet Professional, they can be exported to Prophet Enterprise, within which runs are set up, executed, monitored and reported upon.
Marc Fakkel, head of operations for SunGard's iWORKS Prophet business unit, said, "SunGard's deep industry expertise, along with the collaboration of a leading UK insurance company, has helped us to design and build the iWORKS Prophet Enterprise solution to help our customers work more effectively and better manage run-time and reporting deadlines."