Insular Life Increases Operational Efficiencies with PAM® for Securities

Princeton - 24 August 2010

PAM® massively reduces the number of manual processes in investment accounting and valuation

Insular Life, the leading and largest Filipino life insurance company, selected PAM® for Securities from Princeton Financial® Systems (PFS) to automate investment accounting and valuation.

Insular Life chose PFS’ 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 Life’s 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: “PFS’ 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.”

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