Insular Life, the leading and largest Filipino life insurance company, selected PAMÂ® for Securities from Princeton FinancialÂ® Systems (PFS) to automate investment accounting and valuation.
Insular Life chose PFSâ PAM because of its superior handling and accounting for fixed income, proven track record, and expertise in the Filipino insurance market. PAM will also generate the required accounting journals which are maintained in the integrated general ledger. This will eliminate overhead from manual processing and free up Insular Lifeâs time to concentrate on their core business. Thanks to PAM, Insular Life will not only improve its data integrity and quality, but also benefit from timely reporting.
Mr. Jose Mayo B. Ongsingco, President and Chief Operating Officer of Insular Life, highlights: âPFSâ experience in providing solutions for the insurance industry was a key factor in our decision. We selected PAM due to its superior accounting functionality and the efficiencies it will bring to our organization. By automating the investment and accounting process we will improve our operations and reduce costs.â