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The Actuary The magazine of the Institute & Faculty of Actuaries

Prophet™ sold

Deloitte has announced the sale of the Prophet™ system to SunGard. Prophet™ is an integrated suite of actuarial systems providing a range of advanced facilities for profit-testing, valuation, and model office work. It is used by over 500 insurance companies worldwide.

Commenting on the sale, Jan Kamieniecki, head of Deloitte’s actuarial and insurance practice, said: ‘We are very pleased to have found a good home for Prophet in SunGard and are confident that they will continue to enhance the solution and meet the growing needs of its global client base.’

The terms of the transaction are not being disclosed. Approximately 35 Deloitte staff and one partner in the UK will be transferring to SunGard in Chertsey. Deloitte confirmed to us that The Smith Model™ which can be used with Prophet™ and similar systems is being retained as part of its consulting offering.