Clearwater Analytics has launched several new features and reports designed to facilitate reporting on growing asset classes, identify portfolio risks and further automate reporting.

Clearwater, a provider of web-based investment accounting and reporting solutions for insurance companies, has added functionality for Legal Entity Identifiers (LEI) and created new statements to assist clients in filling out schedule BA and supplemental investment risk interrogatory reports. Clearwater also 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.

Some insurance companies are increasing their exposure to BA assets in an attempt to generate higher investment yield because of the low interest rate environment, and Clearwater’s new schedule BA functionality is intended to help insurers support this asset class.

“Because insurers’ portfolios are under greater scrutiny than ever before, it is important that they’re preparing accurate accounting data for ancillary reports such as the supplemental risk interrogatories,” Clearwater said. “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 also has added functionality to help insurers prepare annual survey reports for A.M. Best, Fitch and S&P ratings providers, the company said. New functionality includes templates to 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 analysis section.

“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.”

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