Clearwater Analytics Challenges Long-Term Contracts for Insurance Investment Portfolio Reporting

04-Aug-2011

Company invites insurers to try month-to-month investment accounting and reporting solutions

BOISE, ID - AUGUST 4, 2011 - Clearwater Analytics, a leading provider of web-based investment portfolio accounting and reporting, is aggressively campaigning against long-term software contracts for insurance investment portfolio accounting and reporting. Clearwater offers month-to-month contracts for its Software-as-a-Service (SaaS) solution.

Dan Pierce, Director of Sales for Clearwater, cites customer focus as the main reason why a month-to-month contract is the best option for its customers and for Clearwater. "We prefer to earn our customers' business everyday which will ensure long-term partnerships," says Pierce. "We can provide long-term contracts but prefer month-to-month because it aligns our interests with our customers. Knowing that our customers have flexibility to select another vendor ensures that we are constantly focused on providing the best solution and superior customer service. In spite of established providers on the market and ample competition, Clearwater boasts a +99% retention rate. We pride ourselves on keeping our clients happy."

Insurers are seeing tremendous value in Clearwater's solution that offers a single, automated and integrated platform for accounting, compliance, risk and performance reporting. In addition, Clearwater features:

  • Month-to-month contracts
  • No implementation or training fees
  • Hassle-free conversion
  • Dedicated customer service
  • SaaS model – no software or hardware to install, configure, or maintain

Founded in 2004, Clearwater has experienced explosive growth and currently reports on over $650 billion in assets for 4,500 clients. Much of the recent growth in assets has been in the insurance market where accounting and investment teams are looking for accuracy, efficiency and transparency. "Providing a top-tier solution and being a good business partner are not mutually exclusive," said Courty Gates, CEO of Clearwater Analytics. "While increasingly strong demand for Clearwater's accounting and reporting solution continues to validate the quality of our offering, we also pride ourselves on being a good partner. This commitment extends to our contracts and service as well."