American Fidelity Appoints SS&C for Insurance Investment Accounting Partnership

Rhea-AI Summary

On September 25, 2020, SS&C Technologies Holdings announced a partnership with American Fidelity Assurance Company, marking the seventh client to adopt its AI-powered Singularity platform in three months. This collaboration will enhance American Fidelity's investment accounting processes. Additionally, SS&C's Precision LM will manage the entire loan lifecycle of American Fidelity's commercial mortgage investments. This partnership highlights SS&C's growing customer base in the insurance sector and its innovative solutions that integrate AI for operational efficiency.

Positive

• Partnership with American Fidelity marks seventh new client for Singularity in three months.
• Enhanced operational efficiency for American Fidelity through AI-driven investment accounting.
• Expansion of SS&C's client base in the insurance sector.

Negative

• None.

WINDSOR, Conn., Sept. 25, 2020 /PRNewswire/ -- SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) today announced that Oklahoma's American Fidelity Assurance Company will migrate its insurance investment accounting to SS&C Singularity. American Fidelity is the seventh client in three months to adopt SS&C's AI-powered Singularity investment operations and accounting platform, adding to the company's established and fast-growing insurance customer base. Additionally, SS&C's Precision LM platform will support the full loan lifecycle of American Fidelity's commercial mortgage investments, including origination, servicing and accounting, and risk-based capital reporting.

"Singularity's unique ability to provide a single, flexible, multi-basis accounting platform and comprehensive support for all of our core and alternative assets significantly enhances our operational efficiency," said John Robison, Chief Investment Officer at American Fidelity. "SS&C's strong capabilities for loan origination and servicing through Precision LM, tightly integrated with Singularity, provides us with a truly holistic and powerful solution that we felt was unmatched in the industry."

"We are thrilled to partner with American Fidelity as we continue to see strong demand for an innovative, next-generation accounting platform," said Kyle Fields, V.P. and Head of SS&C Singularity. "Singularity's AI-driven investment operations and accounting capabilities, broad asset coverage and strong analytics position our clients to future-proof their global operating models."

SS&C has recently signed a variety of new customers, including U.S., Canadian and European insurance companies, as well as mortgage REITs, banks, endowments and hedge funds. Clients have the flexibility to deploy Singularity and Precision LM on a SaaS basis or through full or partial middle/back-office outsourcing services provided by SS&C's highly experienced team of insurance accounting and reporting experts.

Learn more about SS&C Singularity here, and Precision LM here.

About American Fidelity

American Fidelity Assurance Company is a supplemental benefits provider with a focus on offering a different opinion for Customers in education, municipality, auto retail and healthcare. It serves more than 1 million Customers across 49 states and has nearly 2,000 Colleagues, with 1,400 in the OKC headquarters. More information can be found at www.americanfidelity.com or by viewing the company's annual report at www.americanfidelity.com/about-af/annual-report.

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.

SOURCE: SS&C

Additional information about SS&C (Nasdaq: SSNC) is available at www.ssctech.com.

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SOURCE SS&C

FAQ

What is the significance of SSNC's partnership with American Fidelity?

The partnership signifies SSNC's growing influence in the insurance sector, providing American Fidelity with advanced investment accounting through the AI-driven Singularity platform.

When was the partnership between SSNC and American Fidelity announced?

The partnership was announced on September 25, 2020.

How many clients have adopted SSNC's Singularity platform recently?

American Fidelity is the seventh client to adopt SSNC's Singularity platform in just three months.

What solutions does SSNC provide to American Fidelity?

SSNC provides the Singularity investment accounting platform and Precision LM for managing the loan lifecycle of commercial mortgage investments.

What is the expected impact of SSNC's Singularity platform on American Fidelity?

The Singularity platform is expected to enhance operational efficiency and support comprehensive investment accounting for American Fidelity.