SunGardís Insurance Solution, iWORKS, Goes Live at Discovery
SunGard (http://www.sungard.com) today announced that Discovery, a leading South African financial services group, has gone live with SunGardís iWORKS COMPASS, a group and individual insurance, pension and investment product administration system (http://www.sungard.com/iworks).
Discovery selected SunGardís iWORKS COMPASS as its single, strategic platform to help administer and support a set of investment products being launched under a new company within the group, Discovery Invest. Discovery Invest was created to leverage the success of Discovery Health, its health insurance arm, and its life assurer, Discovery Life, by extending its offerings to include retail investment and annuity products. SunGardís iWORKS COMPASS will help support Discoveryís initiatives to enhance quality of client service, to improve time-to-market for new product and service offerings and to reduce operational costs.
Lee Izikowitz, general manager of Discovery Investís Systems division, said, ďAfter successfully working with SunGard and the SunGard iWORKS COMPASS system for many years on a separate project, I personally experienced SunGardís proven track record of success upon which it has built its credibility in the insurance industry. SunGard iWORKS COMPASS facilitates the rapid introduction of new products and helps improve the efficiency of our core business processes. Because of SunGardís reputation, flexible application and knowledgeable services organization, we are confident the SunGard team will help us to achieve our service goals and growth strategy.Ē
Greg Webber, president of SunGardís insurance business, said, ďWe are pleased to support Discovery in its efforts to introduce new products and leverage industry leading best practices within the SunGard iWORKS COMPASS solution. We look forward to enhancing this relationship as we move forward in tailoring SunGardís iWORKS COMPASS to help further strategic growth initiatives in South Africa.Ē
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