Insurer moves to SS&C SmartSource powered by SS&C's Singularity for investment accounting services
WINDSOR, Conn., Dec. 17, 2020 /PRNewswire/ -- SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) today announced that Jefferson City-based Missouri Farm Bureau will migrate its insurance investment accounting to SS&C SmartSourceSM services powered by Singularity. SS&C's Singularity leverages artificial intelligence to manage core investment accounting activities by combining robotic process automation (RPA), machine learning, natural language processing (NLP) and predictive analytics in one unified, cloud-based, web and mobile-accessible system.
"We are excited to migrate our insurance accounting and operations to SS&C SmartSource," said Tessa Ell, Head of Investment Accounting at Missouri Farm Bureau. "We believe the Singularity platform will provide us with better online transparency and data access, analytical insights, and more timely and accurate period closes."
Missouri Farm Bureau marks another insurance client to adopt SS&C's AI-powered Singularity via SS&C's SmartSource comprehensive middle and back-office outsourcing services. Firms that have adopted Singularity include U.S., Canadian and European insurers, mortgage REITs, banks, endowments and hedge funds.
"We are pleased to welcome Missouri Farm Bureau to our growing family of insurance clients," said Kyle Fields, V.P. and Head of SS&C Singularity. "Missouri Farm Bureau will benefit from Singularity's advanced automation and reconciliation capabilities, embedded risk and performance analytics and actionable monitors, backed by our deep insurance domain expertise."
Learn more about SS&C Singularity here.
About Missouri Farm Bureau
Missouri Farm Bureau was originally created to fill a need - provide insurance coverages to farmers and other rural residents of Missouri. Many large insurers traditionally underserved these individuals because they lived far from larger cities and towns. The membership and leaders of Missouri Farm Bureau recognized the opportunity that they could create companies that would provide insurance coverage to benefit this important group of people. More information can be found at https://www.mofbinsurance.com/.
About SS&C Technologies
SS&C is a global provider of services and software for the financial services and healthcare industries. Founded in 1986, SS&C is headquartered in Windsor, Connecticut, and has offices around the world. Some 18,000 financial services and healthcare organizations, from the world's largest companies to small and mid-market firms, rely on SS&C for expertise, scale and technology.
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