Prophet Managed Hosted Services
iWorks Prophet Managed Hosted Services is a leading actuarial solution that delivers a comprehensive, fully integrated and securely managed hosted solution.
Delta Lloyd is one of the first iWorks customers to use the new managed hosting services capability. Norbert Hilhorst, Manager of Actuarial and Risk Management at Delta Lloyd, said, “Our year-end model run must complete in 30 days but it was taking 60 days with our previous installation. SunGard provided us with a capacity of 72 cores in the remotely accessed iWorks Prophet managed hosting services environment. Some of the stochastic model runs, which were previously completing in 9 hours, now finish in 40 minutes. We are pleased to say that the process went smoothly and in a time-frame we never anticipated possible.”
Distributed computing is fast becoming the new frontier in insurance and technology as insurers turn to a trusted partner with deep understanding of insurance to outsource critical IT processes. Increasing actuarial demands are also driving the need for more intensive and sophisticated calculations, resulting in a requirement for more computing power and scalability at an affordable price. In addition, regulatory demands require insurers to produce extensive period-end reporting that could take days to execute, requiring additional computing resources to supplement runs.
To address this need for ever-increasing computing power, SunGard iWorks offers Prophet Managed Hosted Services (PMHS): a hosted version of iWorks Prophet running on SunGard’s Infinity infrastructure. Infinity is an innovative strategy combining all of SunGard’s most valuable assets. It includes financial services expertise, technology solutions and collaborative services with service oriented architecture (SOA) to enable integration with other applications at an enterprise level. Infinity also provides business process management (BPM) to complement the overall strategy.
The Prophet Managed Hosted Service provides a centralised risk platform that may be accessed in a distributed fashion. Access to the system may be provided on-demand, so actuarial staff can come up to speed quickly. Capacity can be added easily as demand grows.
Prophet Managed Hosted Services give insurers the infrastructure and the capability to move their risk models into a managed service environment to provide: capacity and efficiency for more intensive stochastic modelling, greater transparency and an ‘enterprise view’ of their models to support a best practice approach to enterprise risk modelling.
As one of the leading providers of availability and disaster recovery services, SunGard understands the complexities in outsourcing critical parts of your business. Insurers can trust SunGard’s years of experience providing hosted services to the financial services industry through a worldwide network of state-of-the-art data centres.