Pool Re, Britain’s government-backed terrorism reinsurer, has partnered with Clearwater Analytics, a provider of SaaS-based investment management, accounting, reporting, and analytics solutions. Under the partnership, Pool Re will transition from a custodian-based model to Clearwater's investment accounting and reporting platform.
Clearwater Analytics was established in 2004 and is located in Boise, Idaho. It serves clients that include insurance companies, asset managers, corporations, banks, and governments. Clearwater is known for its automated investment accounting and comprehensive reporting solutions.
This move will leverage Clearwater's single instance multi-tenant platform to simplify and modernize its finance and investment processes. This enables Pool Re to get highly efficient monthly close processes while empowering all the departments with timely and accurate data. In addition, the scalability and flexibility of the Clearwater platform enables Pool Re to adapt to the rapidly evolving market dynamics and HM Treasury reporting requirements.
Clearwater's platform offers benefits including automated portfolio accounting, daily compliance monitoring, performance tracking, and risk analytics. These benefits are designed to meet the complex needs of institutional investors and provide them with real-time insights and reporting capabilities. Pool Re's partnership decision is reflective of recent trends among institutional investors that adopt advanced SaaS solutions to improve operational capabilities and investment management efficiency.
“Clearwater Analytics’ investment accounting and reporting platform will significantly improve the timeliness and accuracy of our data and enable strategic decision-making,” said Tom Clementi, CEO at Pool Re. “Adopting Clearwater Analytics is a big step forward in modernizing our investment operations to better serve our members and the broader UK insurance market.”
“Choosing the Clearwater platform means Pool Re isn’t just keeping pace – they’re setting it,” said Keith Viverito, General Manager of EMEA and APAC at Clearwater Analytics. “We’re delighted to expand our significant UK market presence through our collaboration with Pool Re, a leading specialty reinsurance provider that plays an important role in the UK economy and is an arm’s length part of HM Treasury.”
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