Future Generali India Life Insurance Company Limited Implements iWorks Solution to Help Improve Risk Management

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Future Generali India has completed its implementation of SunGard’s iWorks Prophet, helping it improve the accuracy of predictive analytics

Future Generali India has completed its implementation of SunGard’s iWorks Prophet, helping it improve the accuracy of predictive analytics. iWorks Prophet is a risk management solution used by worldwide insurers for actuarial modeling and risk reporting. Stricter regulations requiring more robust risk management systems prompted Future Generali to implement iWorks Prophet to help it speed up the product development process, better manage product design, and enhance pricing accuracy.

Mr. Gorakhnath Agarwal, chief actuary at Future Generali India, said, “SunGard’s iWorks Prophet is helping us improve risk management by providing a consistent product pricing process that is efficient and competitive. During these times of regulatory, economic and environmental volatility, it is important to create and maintain a well-balanced product portfolio, which iWorks Prophet is helping us achieve. Training and support from SunGard in India has also been very effective and reliable.”

Atul Sareen, managing director, SunGard India, said, “We are pleased with the decision of Future Generali India to use the iWorks Prophet solution for better risk assessment and actuarial excellence. Newer entrants in the Indian insurance industry like Future Generali India can rely on SunGard’s iWorks Prophet to help them apply the rigour of mathematical and statistical modeling on data accumulated over the past decades. That, coupled with SunGard’s local industry expertise and relationships with the regulator as well as industry think tanks will help Future Generali guard against undue risk.”

About Future Generali
Future Generali is a joint venture between the India-based Future Group and the Italy-based Generali Group. Ranked as 22nd among Indian insurers, Future Group is one of India’s leading business houses with multiple businesses spanning across the country. Retail is the main business activity of Future Group, but its presence can also be seen in consumer finance, capital, insurance, leisure and entertainment, brand development, retail real estate development, retail media and logistics.

About SunGard’s iWorks
SunGard iWorks is an IT product suite for the insurance industry in each of the following major business lines: life/health/annuities/pensions, property and casualty, and reinsurance. iWorks offers a range of products and services including front-office tools, policy administration, reinsurance, actuarial calculations, financial accounting, investment accounting, and reporting. SunGard partners with customers to deliver products and services that align with changing business and regulatory needs.
For more information, visit SunGard iWorks at http://www.sungard.com/iworks.

About SunGard
SunGard is one of the world's leading software and technology services companies. SunGard has more than 20,000 employees and serves 25,000 customers in 70 countries. SunGard provides software and processing solutions for financial services, higher education and the public sector. SunGard also provides disaster recovery services, managed IT services, information availability consulting services and business continuity management software. With annual revenue about $5 billion, SunGard is ranked 380 on the Fortune 500 and is the largest privately held business software and IT services company. Look for us wherever the mission is critical. For more information, visit http://www.sungard.com.

Trademark Information: SunGard, the SunGard logo and iWorks are trademarks or registered trademarks of SunGard Data Systems Inc. or its subsidiaries in the U.S. and other countries. All other trade names are trademarks or registered trademarks of their respective holders.


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