ATLANTA, Feb. 12 /PRNewswire/ -- Gartner, Inc., the world's leading information technology research and advisory company has named SunGard a Megavendor in the December 2009 report, "Insurance Megavendors 2009: Consolidation and Progress Update." Gartner defines Megavendors as "insurance software vendors that offer a wide range of applications to meet the business needs of P&C and life insurance companies."
The report finds that consolidation is a major factor in the insurance technology space, with a reduction in Megavendors from nine in 2008 to five in 2009.
SunGard's iWorks solutions help optimize operations for the insurance industry's major business lines, including life, health, annuities, pensions, property and casualty and reinsurance. The range of products and services includes: front-office tools, policy administration, reinsurance management, actuarial calculations, financial and investment accounting and reporting.
Greg Webber, president of SunGard's insurance business, said, "We are very pleased to have been named one of the five Megavendors by Gartner and view it as a reflection of the strength of our iWorks solution set. The continued success of SunGard iWorks is attributable to our development of solutions to address industry demands, our customer-focused methodology, our global capabilities leveraging SunGard's footprint and the supporting business expertise leveraging SunGard's consulting resources."
About SunGard iWorks
SunGard 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 align with changing business and regulatory needs.
About SunGard
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.
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 435 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 six times. For more information, please visit SunGard at www.sungard.com.
*January 2009 Technology Vendors Financial Database Tracker http://www.datamonitor.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.
For more information please contact: |
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Adriana Senior |
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SunGard |
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+1-718-578-1130 |
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SOURCE SunGard
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