SunGard's goals in communicating with insurance carrier customers include sharing industry knowledge and timely updates, encouraging input into the product development process, and enhancing the experience of using SunGard software, according to Michelle Dennis, vice president of product management and strategy for SunGard's insurance business.
In this case, the software is SunGard's iWorks Investment Accounting System, which won the vendor a RAVE Award in the financials category.
"SunGard maintains open customer communication on business needs and challenges and product feedback through Webinars, newsletters, user groups, customer events, advisory boards, and executive engagement activities," says Dennis. "We invite customers into the planning and development process early on, giving them the opportunity to influence product strategy, direction, and validation."
SunGard's iWorks Investment suite of solutions helps insurance carriers address regulatory, accounting, and asset management requirements for complex fixed investments, according to Dennis. The iWorks Investment Accounting system (IAS) is a mid-tier offering for investment managers requiring comprehensive functionality and advanced reporting for GAAP and statutory reporting compliance.
In explaining why she feels SunGard received the RAVE honor, Dennis points out the iWorks software ensures that insurers are best equipped for investments compliance with a focus on insurance-specific requirements and remains responsive to regulatory changes.
"IAS delivers this value by helping improve data accessibility to help insurers make effective business decisions and by engaging customers with our knowledgeable team of experts," she says. "This is further strengthened by our strong customer communication programs that help keep them informed and prepared."
Recently, SunGard has focused its efforts on expanding the capabilities of iWorks IAS beyond regulatory reporting with the release of tax capabilities delivering centralization, integration, and automation of investment portfolio related tax data, explains Dennis.
Other developments include helping customers meet performance requirements through integration with their Asset Arena investment performance and risk reporting solution, she adds.
Second Place Winner: Financials
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