London – 17 May, 2022 – Clearwater Analytics (NYSE: CWAN), an industry-leading SaaS solution for automated investment data aggregation, reconciliation, accounting, and reporting, announced today that general insurer MSIG has selected Clearwater to support its transformation strategy, standardize its operating model, and provide a consolidated view of data, analytics, accounting, regulatory, and operational reporting across all of its entities.
MSIG is a wholly-owned subsidiary of Mitsui Sumitomo Insurance and a member of the MS&AD Insurance Group, one of Asia’s leading non-life insurance brands with a presence in 50 countries and regions globally. MSIG’s Asia office along with its business units in Hong Kong, Malaysia, and Thailand will lead the transformation followed by more markets across the region.
To reinforce their position as a leading player in the region, MSIG will leverage the Clearwater Insurance-Investment Accounting as a Service (IAaaS) platform to support growth and provide a seamless digital experience across the investment and finance teams. MSIG undertook a comprehensive review of providers and chose Clearwater with its SaaS offering, deep insurance market expertise, and continued growth commitment to the Asia market.
“As a company with business that is focused on mitigating risks, we want to be able to create a positive impact for the society and the world. To do that, we have to innovate and invest in enhancing our infrastructure and digital capabilities to provide our investment teams with the tools for supporting our investment strategies and objectives, as well as our ESG commitments,” said Richard Da Silva, Chief Financial Officer, MSIG Asia. “We are confident that Clearwater is the right partner to support us as we further our investment priorities for 2022 and beyond.”
“We are excited to have MSIG transition to the Clearwater platform. They have consistently proven success in their long-term view of the business, and we are happy Clearwater’s self-service digital reporting across all assets aligns with their strategic priorities,” said Gayatri Raman, President, Europe and Asia, Clearwater Analytics. “Clearwater is experiencing great growth in APAC across insurers and asset management firms who are seeking to move away from legacy software and partner with a leading-edge SaaS solution like Clearwater.”