|[December 31, 2013]
Clearwater Analytics Releases Enhanced Reporting Functionality for Insurers
BOISE, Idaho --(Business Wire)--
Clearwater Analytics, the leading provider of web-based investment
accounting and reporting solutions for insurance companies, today
announced the availability of several new features and reports designed
to facilitate reporting on growing asset classes, identify portfolio
risks, and further automate reporting needs. Clearwater has added more
functionality for Legal Entity Identifiers (LEI) and created new
statements to assist clients in filling out Schedule BA and Supplemental
Investment Risk Interrogatory reports.
To continue to support the industry adoption of LEI requirements,
Clearwater has released enhanced and automated LEI functionality to
support the addition of the identifier numbers on any report, using data
from a leading third-party provider. "Not only does Clearwater support
LEI, we are automatically populating the LEI data field, which
eliminates the manual component of LEI data compliance and saves our
clients both time and effort," said Dwayne Kreipl, Director of Data
Management for Clearwater.
With the current low interest rate environment, insurance companies are
increasing their exposure to BA assets in an attempt to generate higher
investment yield. Clearwater's new Schedule BA functionality helps
insurance companies further support this growing asset class.
Because insurers' portfolios are under greater scrutiny than ever
before, it is important that they're preparing accurate acconting data
for ancillary reports such as the Supplemental Risk Interrogatories.
Clearwater has long supported the preparation of this report, but has
added additional functionality to further aid how regulators identify
and analyze risk in an insurance company's investment portfolio.
Clearwater has also added additional functionality to help insurance
companies prepare annual survey reports for A.M. Best, Fitch, and S&P
ratings providers. New functionality includes templates to help
facilitate the reporting of the C-1 Asset Risk and Liquidity Survey for
S&P, the Supplemental Investment Survey for Fitch, and selected parts of
A.M. Best Reporting, including the Single Large Exposure and
Mortgage-Backed Securities Exposure reports, as well as the Portfolio
"Insurance companies have traditionally struggled to complete credit
rating reports because they have difficulty getting data and they rely
on manual processes," said Richard Pullara, Manager of Insurance
Solutions for Clearwater. "With the addition of these reports, insurers
will be better equipped to produce optimal survey reporting, including
A.M. Best reporting."
"Clearwater's number one priority is to address the needs of its
clients," said Scott Erickson, Clearwater's Director of Client Services
and Product Management. "As the only integrated investment portfolio
reporting and analytics solution, Clearwater continues to lead the way
by providing insurance clients with new and enhanced functionality-like
new Schedule BA support, enhanced Supplemental Risk Interrogatory
capabilities, and more-every month to ensure that they have the tools
needed to provide accurate and timely reporting."
About Clearwater Analytics
Clearwater Analytics® provides web-based investment accounting and
portfolio reporting and analytics for corporate treasuries, insurance
companies, and asset managers. Clearwater's daily-aggregated and
reconciled solutions deliver the highest level of portfolio transparency
available on the market today for insurance clients such as Group Health
Companies, The Main Street America Group, Savings Bank Life Insurance
Company of Massachusetts, SCF Arizona, The Warranty Group, and WellCare.
Launched in 2004, with offices in New York, New York; Boise, Idaho; and
Edinburgh, U.K., Clearwater Analytics reports on more than $960 billion
in assets for thousands of institutional investors. For more information
about Clearwater Analytics, visit www.clearwateranalytics.com.
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