Clearwater Analytics, a provider of web-based investment accounting and reporting solutions for institutional investors, has reportedly increased momentum in the insurance segment thanks to an SaaS approach.
Clearwater says it has seen 445-percent growth in clients coming from the insurance sector since the beginning of 2009, and the total amount of insurance assets on which Clearwater reports has grown from roughly $9 billion at the beginning of 2009 to more than $100 billion today. Results from Clearwater’s own client satisfaction survey show that more than 95 percent of insurers were “extremely satisfied” or “satisfied” with Clearwater’s reporting functionality.
According to a statement from the company, they focus on integrating disparate systems, compliance montoring, cost saving and streamlining investment operations.
"We have a dedicated team of insurance accounting experts who are involved in defining product direction and functionality and who make a concerted effort to stay up to date on NAIC pronouncements,” said Scott Erickson, director of product management at Clearwater.
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