Clearwater Analytics announced today that Global Atlantic Financial Group has selected Clearwater as its provider of investment data management, accounting, and reporting.
Global Atlantic is a leading U.S. retirement and life insurance company focused on helping Americans fulfill their protection, accumulation, income, wealth transfer, and end-of-life needs. Clearwater will bring its spirit of innovation to Global Atlantic’s oversight and analysis of their investments.
With its automated software-as-a-service (SaaS) solution, Clearwater will create major efficiencies in Global Atlantic’s processes for producing accurate investment accounting and performance data, and the strategic analysis it facilitates. The solution is suited to the particular needs of Global Atlantic’s portfolio approach, providing flexible accounting assumptions, support for complex and emerging asset classes, and truly global capabilities for currencies, accounting bases, and regulatory reporting requirements.
“This is a technology that will create key opportunities — rather than apply limitations — to our investment team,” said Kim Lee, CFO at Global Atlantic. “Clearwater’s sophisticated automation and data capabilities will allow our team to have everything they need as our investment volumes grow, and its expertise in investment accounting and reporting will allow us to access new and attractive asset classes.”
Clearwater is the leading SaaS solution for investment data management, reconciliation, accounting, and reporting for insurers, investment managers, and other institutional investors in more than 49 countries. As a web-based system, Clearwater leverages automation and other innovative technologies to increase the accuracy, timeliness, and enrichment of clients’ data. The solution is configurable to the needs of each user, and has been evolved according to the needs of the world’s most sophisticated insurers, investment managers, and corporations.
Clearwater is backed by account-dedicated servicing teams, with comprehensive support from Boise, Edinburgh, and New Delhi. Region-focused investment accounting and reporting solutions and experts assist clients and help guide the further development of the system; more than half of Clearwater’s 1,000+ employees are dedicated to ongoing software development.
Clearwater’s industry expertise and insurance-specific focus make it an ideal partner to support the ongoing success of Global Atlantic.
“We are delighted to partner with a company like Global Atlantic. They are innovative and forward-thinking — traits and values we share at our core,” said Sandeep Sahai, Chief Executive Officer at Clearwater Analytics. “We are excited to help streamline their investment operations and create synergies across multiple teams in multiple locations.”