UK Reinsurer Transitions to Clearwater's SaaS-Based Solution for Greater
Transparency and Strategic Decision Making
BOISE, Idaho and LONDON, July 11,
2024 /PRNewswire/ -- Clearwater Analytics (NYSE: CWAN), a
leading worldwide provider of SaaS-based investment management,
accounting, reporting, and analytics solutions, today announced
that Pool Re, Britain's
government-backed terrorism reinsurer with funds of £7.0bn, will
transition from using a custodian-based model to Clearwater's market leading investment
accounting and reporting platform.
Pool Re will leverage Clearwater's single instance, multi-tenant
platform to streamline and modernize their finance and investment
processes. The adoption of Clearwater will enable Pool Re to achieve
highly efficient monthly close processes and empower all
departments with timely and accurate data. The scalability and
flexibility of the Clearwater
platform will also enable Pool Re to rapidly adapt to evolving
market dynamics and HM Treasury reporting requirements.
"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 re-insurance
provider that plays an important role in the UK economy and is an
arm's length part of HM Treasury."
To learn more about Clearwater Analytics, speak to an expert
today.
About Pool Re
Pool Re is the insurance industry's mutual for reinsuring
terrorism risk in Great Britain
and an Arm's Length Body of HM Treasury (HMT). It exists to protect
Britain's economy and safeguard
society and livelihoods from acts of terrorism.
Pool Re offers commercial property reinsurance cover for losses
caused by terrorism on an "All Risks" basis, including chemical,
biological, radiological and nuclear (CBRN), damage caused by
remote digital interference and non-damage business interruption.
It offers a financial safety net for more than £2 trillion of
assets belonging to businesses of all sizes.
Pool Re has a reserve fund built up over 30 years by investing
insurers' premium contributions in preparation for the unthinkable.
Pool Re is also backed by an unlimited HMT loan facility which
underpins its work to support the resilience of the British
economy.
For more information, visit www.poolre.co.uk.
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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