SUA Insurance Company licenses SunGard's FrontTier software
SunGard Sherwood Systems, an operating unit of SunGard (NYSE:SDS), today announced that Chicago-based Specialty Underwriters Alliance Inc., on behalf of its licensed statutory company, SUA Insurance Company (SUA), has licensed SunGard's FrontTier, a Web-enabled insurance administration solution for property and casualty insurers.
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SUA will use FrontTier to automate commercial lines submissions, quotations, policies, billing, accounting, workflow, claims and reports.
SUA commenced the launch of various programs in some of its licensed states at the beginning of January 2005, with the remaining states targeted for implementation throughout 2005. SunGard delivers a full policy, billing and claims administration solution including implementation with the new ISO Rating Service, combined with SunGard's ProCede and EAS products for reinsurance and general ledger functionality.
Simon Speight, chief information officer of SUA, commented, "SUA is launching in a very short timeframe, from IPO to live date in minimal time. As a new business we did not have to worry about legacy systems. Instead we needed a solution that could deliver as much integrated functionality as possible, and be implemented to meet our launch date for the business. In addition, the solution had to be customisable to adapt to our unique business model and continue to roll out new products on a timely and cost-effective basis." Mr. Speight continued, "Despite these tough criteria, it was clear to us that SunGard would be able to meet our needs. We have been able to work with them very closely and they have proven themselves to be extremely responsive to our evolving business requirements while still respecting our deadlines."
Gavin Lavelle, president of SunGard Sherwood Systems, commented, "The USA is the largest P&C market in the world and I am very pleased that working with SUA we have delivered an integrated end-to-end solution that includes the new ISO Rating Service. Our objective is to provide the best service capability for our customers and their agents."