SS&C’s middle- and back-office platform for insurers reaches client milestone

The momentum follows the highlighted need for insurers to re-align their investment operating models.

By Wesley Bray

SS&C Technologies has announced that its digital investment analytics, operations and accounting platform for insurers, Singularity, has signed on more than 50 clients.

By using machine learning, natural language processing, intelligent workflow tools and predictive analytics, SS&C claims Singularity modernises insurers’ middle and back-offices.

The platform is able to provide automation, operational transparency, data access, reporting flexibility and analytical insights.

Singularity accounts for, analyses and reports on a wide range of traditional and complex investments, including derivatives, loans, partnerships and alternative assets.

“SS&C Singularity optimises our operations for today’s complex investment environment. SS&C’s modern, flexible technology, coupled with the firm’s deep insurance investment accounting, regulatory expertise and servicing across traditional and alternative assets, puts us in a strong position,” said John Robison, chief investment officer at American Fidelity Assurance Company.

SS&C won the insurance investment accounting services mandate from American Fidelity Assurance in September last year, one of a number of recent insurance agreements which included US giant PNC.

In addition, SS&C announced in April 2020 that it would acquire Irish-based Capita Life and Pensions Services (CLPSI) as it looked to add to its international pensions and insurance administration services business. 

For its Singularity platform, recent improvements include continuous expansion for partnership investments and commercial mortgage loans, integrated post-trade compliance, risk and financial analytics, data visualisation and presentation-quality reporting.

“We are pleased with the adoption of Singularity on a SaaS, co-sourced or fully-outsourced basis. The global pandemic and persistent low interest rate environment have highlighted the need for insurance companies to re-align their investment operating models. Equally important is the need for more robust, holistic AI-driven data analytics across the entire investment portfolio,” said Bill Stone, chairman and CEO of SS&C Technologies.

The news of SS&C Singularity’s growth also follows the recent launch of SS&C Lyric, the revamped cloud-based recordkeeping operating platform for buy-side firms that offers real-time data capabilities. SS&C Lyric was launched in May this year.