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 this partnership, Pool Re will transition from a custodian-based model to Clearwater’s investment accounting and reporting platform.
Clearwater Analytics, established in 2004 and headquartered in Boise, Idaho, serves clients including insurance companies, asset managers, corporations, banks, and governments. Clearwater is renowned 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. It enables Pool Re to achieve highly efficient monthly close processes while empowering all departments with timely and accurate data. Additionally, the scalability and flexibility of the Clearwater platform enable Pool Re to adapt to rapidly evolving market dynamics and HM Treasury reporting requirements.
Clearwater’s platform offers benefits such as 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 real-time insights and reporting capabilities. Pool Re’s decision to partner reflects recent trends among institutional investors adopting advanced SaaS solutions to enhance 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 major step forward in modernizing our investment operations to better serve our members and the broader UK insurance market.”
“By choosing the Clearwater platform, 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 thrilled to expand our significant UK market presence through our collaboration with Pool Re, a leading specialty reinsurance provider that plays a crucial role in the UK economy and operates as an arm’s length part of HM Treasury.”
