Insurance Asset Risk Awards Celebrate
Clearwater's Excellence in IFRS 9 Solutions
BOISE, Idaho, April 18, 2024 /PRNewswire/ -- Clearwater
Analytics (NYSE: CWAN), a leading provider of SaaS-based investment
management, accounting, reporting, and analytics solutions, today
announced that it has won the IFRS 9 Solution Provider of the Year
award for the second consecutive year. This achievement underscores
Clearwater's expertise in
navigating the complexities of financial reporting and simplifying
meticulous processes for our clients.
The Insurance Asset Risk Awards annually recognize outstanding
technology firms in the insurance asset management sector.
Clearwater Analytics distinguished itself from the competition with
its cloud-based SaaS platform and dedicated Client Services
offering, which provides a robust foundation to assist clients with
their IFRS 9 plan, or global equivalents such as PSAK 71. The
solution itself simplifies and streamlines adherence to the
financial reporting rules for businesses of all sizes.
"We're truly honored by this award, which highlights our team's
deep understanding of IFRS 9 and our dedication to supporting our
clients," said Keith Viverito,
Managing Director, EMEA and APAC at Clearwater Analytics. "The
journey towards IFRS 9 proficiency has been difficult for many in
the industry. While insurers have become more adept over the years,
there remains a significant need for improvement in operational
models to align with best practices today. Clearwater simplifies the financial reporting
process, making it faster and more accurate in aligning with IFRS 9
requirements. Our ability to automate the Expected Credit Loss
(ECL) allowances and provide comprehensive data management
solutions is a testament to our investments in innovation and
relentless focus on customer success."
One of the main challenges facing businesses for IFRS 9
adherence is the impairment of financial instruments, particularly
the ECL model. Firms continuously struggle with data availability
and quality, estimation techniques, scenario analysis,
documentation, auditability, and the ongoing monitoring and
reassessment of financial instruments. Clearwater's success in delivering
sophisticated solutions that address these challenges head-on has
been a major factor behind its industry-leading 60+ NPS score.
This award joins a growing list of industry accolades, including
the InsuranceAsia News Excellence Award for Technology Provider of
the Year, the Chartis RiskTech Buyside 50 spot for Investment
Lifecycle – Insurance/ Pension Funds, and the Captive Review Award
for Software Solution of the Year. Each honor reaffirms
Clearwater's commitment to
enhancing data quality and operational efficiency for clients
around the globe.
Talk to an expert today to learn more about how Clearwater
Analytics elevates financial operations and IFRS 9 compliance
strategy.
About Clearwater Analytics
Clearwater Analytics (NYSE: CWAN), a global, industry-leading
SaaS solution, automates the entire investment lifecycle. With a
single instance, multi-tenant architecture, Clearwater offers award-winning investment
portfolio planning, performance reporting, data aggregation,
reconciliation, accounting, compliance, risk, and order management.
Each day, leading insurers, asset managers, corporations, and
governments use Clearwater's
trusted data to drive efficient, scalable investing on more than
$7.3 trillion in assets spanning
traditional and alternative asset types. Additional information
about Clearwater can be found
at clearwateranalytics.com.
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