Pool Re to streamline finance and investment processes with Clearwater partnership
Clearwater, a provider of SaaS-based investment management, accounting, reporting, and analytics solutions, has partnered with Pool Re, Britain’s government-backed terrorism reinsurer, to support its investment accounting and reporting process.
With this partnership, the UK reinsurer aims to transition from using a custodian-based model to Clearwater’s single instance, multi-tenant platform to streamline and modernise its finance and investment processes, the firm has explained.
According to the announcement, the adoption of Clearwater will enable Pool Re to achieve highly efficient monthly close processes and empower all departments with timely and accurate data.
Additionally, scalability and flexibility of the Clearwater platform will also enable the reinsurer to rapidly adapt to evolving market dynamics and HM Treasury reporting requirements.
Tom Clementi, CEO at Pool Re, said: “Clearwater Analytics’ investment accounting and reporting platform will significantly improve the timeliness and accuracy of our data and enable strategic decision making.
“Adopting Clearwater Analytics is a big step forward in modernising our investment operations to better serve our members and the broader UK insurance market.”
Keith Viverito, General Manager of EMEA and APAC at Clearwater Analytics, commented: “Choosing the Clearwater platform means Pool Re isn’t just keeping pace – they’re setting it.
“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.”
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