Ability to Automate Labor-Intensive Tasks and Create Robust and Complex Reports Cited as Deciding Factors
UNIT4 Business Software, the North American subsidiary of UNIT4, the global leader in software that supports business change, has signed an agreement to provide Sentinel Security Life Insurance with UNIT4 Coda Financials to help manage its rapid growth. Coda will become the financial hub at the heart of the fast expanding insurance company’s systems, supporting ongoing change and modernization.
For over 60 years, Sentinel has focused on helping seniors by providing specialized insurance and financial solutions including final expenses, healthcare insurance and retirement annuities. In the last three years, the company has undertaken a modernization strategy and has introduced new products to the market that were well received. “In anticipation of new product offerings and an expanding market, we needed a robust solution that could provide real-time financial visibility and control across our people, processes and systems,” says David Rasmussen, Chief Information Officer at Sentinel.
A key consideration in Coda Financials’ selection over Lawson ERP was its architectural design that allows for easier implementation, its ability to run on the IBMi platform, its superior reporting capability and its low total cost of ownership. “Coda Financials’ ability to integrate seamlessly with front-office systems such as our commission and incentive compensation system was critical. We needed a system that could handle a large volume of data and provide real-time reporting to effectively drive commissions to over 10,000 agents daily,” Rasmussen adds. “We have aggressive expansion plans over the next ten years and we expect Coda Financials to play an important part in the development of our company,” he concludes.
Coda Financials has a strong track record in the insurance industry with over 200 clients worldwide, including Pinnacol Assurance, SECURA Insurance, Lombard Insurance, Pan American Life and Barings in North America.
“Insurance companies are constantly facing new regulatory changes, market pressures or organizational changes to better serve their customers and remain competitive”, says Shelley Zapp, CEO of UNIT4 Business Software. “Managing these layers of complexity is critical to these businesses, and Coda Financials helps analyze performance in real time with multi-dimensional reporting capabilities, which translates into faster and better decision making and improved service for their customers,” she adds.
Sentinel expects to be up and running on Coda Financials by Q2 2014.