Texas Farm Bureau Insurance Companies Select SunGard’s iWorks Investment Management

The Texas Farm Bureau Insurance Companies (Waco, Texas) have selected SunGard's iWorks Investment Management solution to help the Companies manage more than $1billion in invested assets by providing investment accounting, reporting, portfolio analytics, and decision support. SunGard is also providing consulting services to help the Companies optimize system configuration, maximize the efficiency of resources and minimize risk.

In a statement, Mike Gerik, EVP of the Companies, said, "We turned to SunGard because of its valued expertise and understanding of complex regulations and NAIC rules. We trust SunGard's ability to deliver a comprehensive solution that can help us transform our business operations through the new functionality iWorks provides as well as its ability to help us make better use of existing resources." SunGard's iWorks Investment Management supports a range of investment instruments and includes the ability to process in multiple open periods. It also supports the analysis of investments based on market changes and can support the specific operational, processing and reporting requirements of the Companies. iWorks integrates custodial and market data, which supports alignment with current market conditions. As a fully automated solution, iWorks will also help the Texas Farm Bureau Insurance Companies shorten statutory reporting cycles and improve data accuracy, according to SunGard.

Katherine Burger is Editorial Director of Bank Systems & Technology and Insurance & Technology, members of UBM TechWeb's InformationWeek Financial Services. She assumed leadership of Bank Systems & Technology in 2003 and of Insurance & Technology in 1991. In addition to ... View Full Bio