Clearwater Assembles Expert Panel to Explore Reporting Innovations

10-May-2010

Many Insurers moving away from patchwork systems towards integrated solutions

BOISE, ID – MAY 10, 2010 – Clearwater Analytics, a recognized leader in transparent, outsourced, web-based, investment portfolio reporting and analytics for both separately managed and commingled accounts, will explore investment reporting innovations during an open webinar on May 18th.

For decades, insurance companies have struggled with legacy software systems and cumbersome manual processes in order to create a comprehensive picture of their investment portfolios. These efforts have frequently fallen short in providing timely and accurate information for insurance investors to make informed investment decisions.

According to a survey by The Economist, "Insurance companies have long struggled to gain greater efficiency and transparency in their financial processes through automation and process redesign. Their efforts have generally been focused on the negative goals of controlling costs, reducing sudden financial shocks and avoiding regulatory sanctions. However, some companies are discovering that a more integrated approach to managing financial processes can be a source not only of efficiency, but also of strategic advantage." 1

Clearwater has assembled a distinguished panel of industry experts for an open webinar on May 18th to explore the investment reporting challenges facing insurance companies today, as well as the solutions to address those challenges, Jennifer Overhulse-King, insurance media consultant and Principal Owner with St. Nick Media, will moderate the panel comprised of Dan Armstrong, Senior Editor, Industry & Management Research, Americas with The Economist, Bret Myers, Assistant Treasurer with Group Health and Clearwater Analytics CEO, Courty Gates.

"Given the increased emphasis insurers have placed on their investment activities, it’s only logical that the systems used to monitor, analyze and report on the investment portfolios be integrated and capable of generating daily accounting, compliance, performance and risk reports in the form of actionable intelligence," said Gates. "We believe it is vital for insurers to move away from antiquated and siloed systems and technologies in order to confront the challenges they will face in an evolving marketplace," he continued.


1 "Strengthening governance, risk and compliance in the insurance industry" © Economist Intelligence Unit Limited 2009