WINDSOR, Conn., Feb. 6, 2019 /PRNewswire/ -- SS&C Technologies Holdings, Inc. (Nasdaq: SSNC), today announced that The Great-West Life Assurance Company ("Great-West Life") has selected SS&C's Precision LM for loan servicing, accounting, asset management, valuation and reporting.
Great-West Life is a global insurance company and is one of Canada's major commercial lenders. The company offers a wide range of insurance and wealth management products. Great-West Life chose Precision LM citing SS&C's proven track record at more than 35 global insurance clients who are commercial lenders.
"In order to better service our existing customers and support the growth of our mortgage loan servicing business, we needed to modernize and consolidate multiple systems onto a single platform," said Brian Allison, Executive Vice-President and Chief Investment Officer, Great-West Life. "We were impressed with SS&C's knowledge of insurance industry loan operations and their willingness to partner with us to enhance their product to meet our unique business needs and those of the Canadian marketplace."
Precision LM will enable Great-West Life to consolidate multiple applications into a single, holistic platform improving communication and reporting between business lines and facilitating future growth.
"We are excited to work with Great-West Life to expand Precision LM's capabilities and deliver world class service," said Bill Stone, Chairman and Chief Executive Officer, SS&C Technologies. "Precision LM enables Great-West Life to continue growing its loan servicing business and deliver timely, accurate information to help manage its portfolio."
About Great-West Life, London Life and Canada Life
Great-West Life, together with London Life and Canada Life, are leading Canadian insurers focused on improving the financial, physical and mental well-being of Canadians. Our customers across Canada have trusted us to provide for their financial security needs and deliver on the promises we have made. Together, we serve the financial security needs of 13 million people across Canada and are leading providers of a wide range of insurance and wealth management products and services for individuals, families and business owners, from coast to coast.
About SS&C Technologies
SS&C is a global provider of investment and financial software-enabled services and software for the global financial services and healthcare industries. Founded in 1986, SS&C is headquartered in Windsor, Connecticut and has offices around the world. Some 13,000 financial services and healthcare organizations, from the world's largest institutions to local firms, manage and account for their investments using SS&C's products and services.