Future Generali India has completed the deployment of SunGard's the risk management solution iWorks Prophet, to help it speed up the product development process, better manage product design, and enhance pricing accuracy.
SunGard said that the iWorks risk management solution is being used by the insurers for actuarial modeling and risk reporting.
Future Generali India chief actuary Gorakhnath Agarwal said that SunGard’s iWorks Prophet is helping the company 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." Agarwal said.
SunGard India managing director Atul Sareen said that 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," Sareen said.