Atlanta, GA (Vocus) February 23, 2009
USAble Life has selected SunGard's iWorks to help it build, deploy, administer and sell group insurance and worksite products as well as provide a Web-enabled business environment to its clients and partners. Using SunGard's iWorks' voluntary/worksite environment, USAble will be able to offer its clients greater flexibility in terms of the benefits and services it provides.
SunGard's iWorks will help USAble Life process its business more efficiently through automated enrollment and self-service portals, as well as through the solution's automatic payroll deduction and direct member billing capabilities. SunGard's iWorks provides the ability for insurers to create tailored insurance products with Web-connected administration and a service-level experience through the life of a policy.
USAble Life will use SunGard's iWorks solutions for group and voluntary insurance product administration, and for financial accounting and reporting. SunGard's iWorks Compass will help support client service, billing, collections, claim administration and help the company manage and grow its traditional and voluntary worksite group life, disability, dental, cancer and critical illness insurance offerings.
SunGard's iWorks Compass, combined with SunGard's iWorks Enterprise Accounting and Enterprise Filing Systems, will provide USAble Life with a centralized financial repository. SunGard's iWorks will support USAble Life's financial accounting and statutory reporting needs as well as its statutory filing requirements with state insurance departments and the NAIC, while providing a central data resource from which to perform analysis and risk assessment of its business. By providing a central repository of data, SunGard's iWorks will help USAble to achieve greater accuracy, more timely tracking of financial information and greater visibility across its business lines.
Stu Rubinstein, executive vice president of Life and Disability for USAble Life, said, "SunGard's iWorks will help us deliver integrated solutions to our clients in conjunction with our Blue Plan partners. We will use SunGard's iWorks to show our clients the value we bring to our services and claim management techniques through sound data and reporting."
Greg Webber, president of SunGard's insurance business, said, "USAble Life is dedicated to meeting the needs of its clients through a competitive spectrum of products and services. SunGard's iWorks will help it to deliver on that promise by providing the ability to quickly add and tailor new products and services and enhance the user experience. SunGard's iWorks helps insurers achieve greater agility and resilience by providing a solution suite that can easily adapt to changing business conditions and operational requirements."
About USAble Life
USAble Life is a subsidiary of Life and Specialty Ventures, LLC, a holding company dedicated to serving its member Blue Cross and Blue Shield plans and other selected Blue plans. Through these arrangements, USAble Life is uniquely positioned to offer the customers of those Blue plans a competitive spectrum of products and services by combining USAble Life's life, disability, dental and ancillary health business products with the plans' health benefits products.
Established in 1980, USAble Life offers a full-line of group, group voluntary and individual products. The company insures more than 1.4 million individuals and is licensed to sell its products in 48 states and the District of Columbia. Headquartered in Little Rock, Arkansas, USAble Life has regional offices across the country and is supported by a team of 500 employees dedicated to providing superior service to the company's members. More information about USAble Life is available at http://www.usablelife.com.
About SunGard's iWorks
SunGard's iWorks is a business-driven 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 aligns with changing business and regulatory needs.
SunGard is one of the world's leading software and IT services companies. SunGard serves more than 25,000 customers in more than 70 countries, including the world's 25 largest financial services companies.
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 exceeding $5 billion, SunGard is ranked 472 on the Fortune 500 and is the largest privately held business software and services company on the Forbes list of private businesses. Based on information compiled by Datamonitor*, SunGard is the third largest provider of business applications software after Oracle and SAP. Continuity, Insurance & Risk has recognized SunGard as service provider of the year an unprecedented five times. For more information, please visit SunGard at http://www.sungard.com.
*January 2009 Technology Vendors Financial Database Tracker http://www.datamonitor.com
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