SunGard Launches Reinsurance Solution

SunGard announced the availability of SunGard iWORKS ProSume, an assumed reinsurance administration solution supporting professional organizations with assumed reinsurance business. SunGard iWORKS reinsurance solutions support the assumed and ceded reinsurance process for general insurance carriers and professional reinsurers. These solutions are designed to meet the demands of the reinsurance professional regardless of geography and complexity.

ProSume administers assumed (inwards) premiums and losses for all types of treaties and facultative contracts. ProSume also provides cash management capabilities and makes available controls for receivables and payables balance as well as retrocessional reinsurance administration. ProSume can be installed as a stand-alone solution or in conjunction with SunGard iWORKS ProCede Advantage, a ceded and retrocessional reinsurance administration solution.

"We have leveraged our industry expertise and technology to help make ProSume work effectively for our customers," says Mike Dropkin, executive vice president of SunGard's iWORKS business unit. "It helps our customers to better manage their reinsurance portfolios, from submission to contract administration, claims tracking, and premium accounting."