CPA Mutual Insurance Company of America Selects SunGard’s iWorks Financial Accounting and Statutory Solutions

Atlanta, GA (PRWEB) September 18, 2012

CPA Mutual Insurance Company of America Risk Retention Group, a member-owned captive insurance company, has selected SunGard’s iWorks Enterprise Accounting System (EAS) and iWorks Statutory statement solution to help increase operational efficiencies by consolidating financial processing onto a single platform.

SunGard’s insurance solutions will help CPA Mutual access its general ledger, accounts payable, and annual and quarterly statements through one system. In addition, SunGard will help CPA Mutual streamline accounting and statement processing, further increase efficiencies through integration with the company’s policy and claims management system, and help support the initiative to bring accounting functions in-house.

Bill Thompson, president of CPA Mutual Insurance Company of America, Risk Retention Group, said, “With SunGard’s iWorks, we are able to manage our accounting functions internally and make all of our financial and statements processes seamless. The iWorks EAS and Statutory solutions are intuitive and integrate well with other systems we have in place. SunGard also provides the stability and product commitment we were seeking in a systems provider.”

Kevin Singerman, chief operating officer, iWorks Financials, said, “Insurers need greater flexibility in meeting reporting requirements while increasing efficiency and performance of their accounting operations. We’re pleased that CPA Mutual has chosen SunGard’s iWorks solutions to help simplify financial accounting processes and meet various reporting requirements, while delivering essential functions in an intuitive, integrated environment.”

About CPA Mutual Insurance Company of America

Established in 1987, CPA Mutual is a member-owned, "captive" insurance company that provides CPA firms with insurance products for accountant professional liability. The company was formed under the sponsorship of interests of an association of certified public accounting firms, CPAmerica International, a Florida nonprofit corporation. For more information, visit http://www.cpamutual.com.

About SunGard’s iWorks

SunGard’s iWorks is a business-driven IT product family 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 and investment accounting and reporting. SunGard partners with customers to help deliver products and services that align with changing business and regulatory needs. For more information, visit http://www.sungard.com/iworksinsurance.

About SunGard

SunGard is one of the world’s leading software and technology services companies. SunGard has more than 17,000 employees and serves approximately 25,000 customers in more than 70 countries. SunGard provides software and processing solutions for financial services, 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 of about $4.5 billion, SunGard is the largest privately held software and services company and is ranked 480 on the Fortune 500. Look for us wherever the mission is critical. For more information, please visit http://www.sungard.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.

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