BOISE, Idaho – April 12, 2022 – Clearwater Analytics (NYSE: CWAN), a leading provider of SaaS-based investment accounting, reporting, and analytics solutions, announced today that its reporting and accounting solution has been selected by T. Rowe Price to support the global investment management firm’s insurance clients.
Clearwater will provide an enhanced client experience to match T. Rowe Price’s management and servicing expertise in its growing insurance segment.
“Clearwater brings a suite of tools to the table that will elevate our current client experience and allow us to extend our reach in the market. Our commitment to our clients’ success is paramount and adding Clearwater as an element to drive internal efficiency and offer transparency to our clients is key in this effort,” said Brian Rapino, Co-Head of Insurance Solutions at T. Rowe Price.
From the Clearwater partnership, T. Rowe Price clients will enjoy the benefits of direct connections with their book of records, book adjusted carrying value calculations, and enhanced global regulatory support. Using Clearwater, T. Rowe Price’s internal teams gain leverage in managing portfolios and reporting on client assets. The T. Rowe Price team will be supported by Clearwater’s strategic accounts team, which includes accounting and reporting subject matter experts who understand the evolving needs of insurers.
“We are pleased to welcome T. Rowe Price to our growing cohort of insurance-focused managers,” said Scott Erickson, President, Americas and New Markets at Clearwater. “Early on, we recognized a clear philosophical alignment with our joint focus on differentiated offerings that put clients first. As partners, we share a passion for high quality data, trusted reporting, and not only meeting but exceeding the expectations of T. Rowe Price’s insurance clients.”
Current and prospective T. Rowe Price clients will be onboarded to the Clearwater T. Rowe Price platform over the coming months.
“We welcome Clearwater as a solution that diversifies the value we offer our clients,” said Ben Riley, Co-Head of Insurance Solutions at T. Rowe Price. “As we grow our insurance business, focusing on investing in our clients is a top priority, and this is a part of that effort.”