SS&C Technologies Holdings, Inc. (Nasdaq: SSNC), a global provider of financial services software and software-enabled services, announced today that it has signed Everence Financial. Insurance companies continue to select Precision LM™ to optimize their loan servicing, accounting, and statutory reporting requirements.
Headquartered in Goshen, Indiana, Everence is a faith-based financial services firm offering banking, insurance, and financial services with community benefits and stewardship education. The Everence team selected SS&C to eliminate its reliance on spreadsheets, legacy systems, and manual workarounds. Everence Financial will have access to SS&C's extensive investment accounting expertise, including technical accounting resources, industry best practices, and emerging issues.
"SS&C has clearly demonstrated its ongoing investments in technology and services to address changing insurance regulatory and accounting rules and pronouncements that affect our firm," said Jaime Alvarez, Senior Vice President & Corporate Secretary at Everence Financial. "Precision LM was the obvious choice for our firm because of its single integrated platform, robust functionality, and flexibility to meet our evolving business and regulatory requirements."
"SS&C's long history in the insurance sector has allowed us to understand the nuances of this environment, including the regulatory requirements our clients face," said Stan Szczepanik, Vice President, SS&C Technologies. "SS&C has an impressive client list using Precision LM, including four of the top five life company originators. As we continue to focus our development efforts on the unique challenges of the insurance sector, we expect our market share to continue to grow."