Clearwater Analytics Selected by T. Rowe Price to Drive Enhanced Client Experience for Insurance Clients

Rhea-AI Summary

Clearwater Analytics (NYSE: CWAN) has partnered with T. Rowe Price to enhance the client experience for insurance clients. The partnership aims to leverage Clearwater's investment accounting and reporting solutions to support T. Rowe Price's growing insurance segment. Clients will benefit from improved access to their records, carrying value calculations, and regulatory support. Clearwater's team will assist T. Rowe Price in portfolio management and reporting. This collaboration emphasizes a commitment to high-quality data and client satisfaction, with onboarding planned over the coming months.

Positive

• Partnership with T. Rowe Price enhances Clearwater's service offerings in the insurance sector.
• Clearwater's solutions aim to improve client experiences and internal efficiency for T. Rowe Price.
• The company reports on over $5.9 trillion in assets, indicating strong market presence.

Negative

• None.

BOISE, Idaho, April 12, 2022 /PRNewswire/ -- 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."

About Clearwater Analytics

Clearwater Analytics is a global industry-leading SaaS solution for automated investment data aggregation, reconciliation, accounting, compliance, risk, performance, and reporting. Each day, the Clearwater solution reports on more than $5.9 trillion in assets for clients that include leading insurers, asset managers, corporations, pension plans, governments, and nonprofit organizations – helping them make the most of their investment portfolio data with a world-class product and client-centric servicing. Investment professionals around the globe trust Clearwater to deliver timely, validated investment data and analytics. Additional information about Clearwater can be found at clearwateranalytics.com, LinkedIn, and Twitter.

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SOURCE Clearwater Analytics

FAQ

What is the significance of Clearwater Analytics' partnership with T. Rowe Price on April 12, 2022?

The partnership aims to enhance client experiences for T. Rowe Price's insurance clients by utilizing Clearwater's investment accounting and reporting solutions.

How will Clearwater Analytics support T. Rowe Price in managing insurance clients?

Clearwater will provide improved access to records, carrying value calculations, and regulatory support, alongside a dedicated strategic accounts team.

What assets does Clearwater Analytics report on daily?

Clearwater Analytics reports on over $5.9 trillion in assets daily for various clients, including insurers and asset managers.

What are the expected benefits for T. Rowe Price clients from the Clearwater partnership?

Clients can expect enhanced client experience, improved internal efficiency, and access to expert support in managing their portfolios.