M&G Investments Selects Clearwater Analytics to Strengthen Third-Party Insurance Business

Rhea-AI Summary

Clearwater Analytics (NYSE: CWAN), a global SaaS provider, announced that M&G Investments has selected its investment accounting solution to enhance M&G's third-party insurance business. This partnership aims to automate investment management, regulatory reporting, and monthly investment board packages for M&G's global insurance clients. Clearwater PRISM, the client reporting platform, will enable comprehensive portfolio views and meet complex multi-basis accounting requirements. M&G's clients will benefit from a streamlined, efficient, and accurate reporting process. Clearwater's capabilities will help M&G expand its footprint in growing international insurance markets, leveraging their expertise in public and private markets.

Positive

• M&G Investments' selection of Clearwater Analytics highlights the trust in Clearwater's solutions, potentially boosting CWAN's credibility and market position.
• The automation of investment management and regulatory reporting through Clearwater PRISM could lead to higher operational efficiency and cost savings for M&G.
• Clearwater PRISM will provide M&G's clients with a consolidated portfolio view, enhancing transparency and decision-making.
• The partnership allows M&G to expand its Insurance Solutions in international markets, indicating growth opportunities.
• Clearwater's advanced technology will help M&G address unique reporting challenges across various regulatory regimes, showcasing the platform's adaptability.

Negative

• The partnership's success is contingent on Clearwater's ability to deliver as promised, posing a risk if there are implementation issues.
• Dependency on Clearwater's technology means any technical failures or inadequacies could negatively impact M&G's operations and client satisfaction.

Insights

Financial Analyst

The partnership between M&G Investments and Clearwater Analytics is expected to have a direct impact on the efficiency and scalability of M&G's investment management and reporting processes. By integrating Clearwater's SaaS-based platform, M&G can automate and streamline complex accounting and regulatory reporting tasks, which is particularly beneficial given the increasingly stringent regulatory environment. This move is strategically significant as it will likely reduce operational costs and enhance service delivery, offering M&G a competitive edge in international markets. However, investors should be cautious of the potential initial implementation costs and any teething issues as the new system is adopted. The long-term benefits, assuming successful integration, could include increased profitability and market share, particularly in regions with growing insurance and reinsurance sectors.

Rating: 1

Technology Expert

Clearwater Analytics' PRISM platform boasts advanced capabilities in consolidating data across multiple accounting engines and analytic platforms, offering a comprehensive view of investment portfolios. For M&G Investments, this technological integration can provide a sophisticated, unified reporting system that enhances transparency and decision-making processes. The key benefit of this integration lies in its ability to handle multi-basis accounting requirements and deliver timely, accurate reports. From a technological standpoint, the partnership is a forward-thinking move, leveraging modern SaaS solutions to tackle evolving industry challenges. However, the success of this integration will depend on the seamless implementation and user adaptation to the new system. The promise of enhanced efficiency and the capability to address diverse regulatory regimes is a notable advantage of this technological upgrade.

Rating: 1

London-Based Global Investment Manager to Scale and Drive Growth With Clearwater PRISM

BOISE, Idaho and LONDON, June 11, 2024 /PRNewswire/ -- Clearwater Analytics (NYSE: CWAN), a leading worldwide provider of SaaS-based investment management, accounting, reporting, and analytics solutions, today announced M&G Investments, a leading international asset manager and part of M&G plc, has selected Clearwater Analytics as its SaaS-based investment accounting solution for timely, accurate, and comprehensive investment accounting and reporting.

The Clearwater platform will automate investment management and regulatory reporting and support the complex needs of M&G's global insurance clients. With a white-labeled version of Clearwater's platform, M&G's insurance clients will have access to an M&G web portal and rely on Clearwater PRISM for monthly report generation. This automated investment reporting system will provide clients with a complete view of their investments and enable them to meet complex multi-basis accounting requirements. Additionally, Clearwater will streamline the delivery of monthly investment board packages created by M&G, enhancing the process with greater efficiency, timeliness, and accuracy.

"As insurers face increasingly complex challenges in managing their investment portfolios, we recognise the importance of providing robust, innovative technical solutions that keep pace with evolving regulatory change," said Russell Lee, M&G's Head of Insurance Solutions. "Clearwater's enhanced capabilities will also allow us to expand our Insurance Solutions footprint in international markets experiencing strong growth in insurance and reinsurance, while also providing clients with greater access to M&G's compelling public and private markets investment expertise. Clearwater will be a valuable partner in enabling us to provide our clients with the exceptional service they require."

"As insurance regulatory requirements become increasingly complex, we are dedicated to enhancing our platform's capabilities to provide asset managers and insurers with a best-in-class investment accounting and reporting solution," said Keith Viverito, General Manager of EMEA and APAC at Clearwater Analytics. "M&G's insurance clients will experience the benefits of a consolidated view of their portfolio investments. They will also have the flexibility to address unique reporting challenges across different regulatory regimes leveraging modern best-in-class technology and workflows. We are thrilled to have been selected by M&G and look forward to collaborating with them to transform the underlying technology supporting their insurance solutions group."

Clearwater PRISM is a leading client reporting platform for asset managers, designed for firms that want a comprehensive view of their portfolios that span multiple platforms. The Clearwater PRISM platform enables firms to consolidate information across multiple accounting engines, analytic platforms, and data sources for an all-in-one client reporting solution. To learn more about Clearwater Analytics, speak to an expert today.

About M&G Investments

M&G Investments is part of M&G plc, a savings and investment business which was formed in 2017 through the merger of Prudential plc's UK and Europe savings and insurance operation and M&G, its wholly owned international investment manager.  M&G plc listed as an independent company on the London Stock Exchange in October 2019 and has £343.5 billion of assets under management (as of 31 December 2023). M&G plc has customers in the UK, Europe, the Americas and Asia, including individual savers and investors, life insurance policy holders and pension scheme members.

For nearly nine decades M&G Investments has been helping its customers to prosper by putting investments to work, which in turn creates jobs, homes and vital infrastructure in the real economy. Its investment solutions span equities, fixed income, multi asset, cash, private debt, infrastructure and real estate.

M&G recognises the importance of responsible investing and is a signatory to the United Nations Principles for Responsible Investment (UNPRI) and is a member of the Climate Bonds Initiative Partners Programme.

M&G plc has committed to achieve net zero carbon emissions on its total book of assets under management and administration by 2050 and committed to reduce operational carbon emissions as a corporate entity to net zero by 2030.

For more information, please visit: https://global.mandg.com/

About Clearwater Analytics

Clearwater Analytics (NYSE: CWAN), a global, industry-leading SaaS solution, automates the entire investment lifecycle. With a single instance, multi-tenant architecture, Clearwater offers award-winning investment portfolio planning, performance reporting, data aggregation, reconciliation, accounting, compliance, risk, and order management. Each day, leading insurers, asset managers, corporations, and governments use Clearwater's trusted data to drive efficient, scalable investing on more than $7.3 trillion in assets spanning traditional and alternative asset types. Additional information about Clearwater can be found at clearwateranalytics.com.

View original content to download multimedia:https://www.prnewswire.com/news-releases/mg-investments-selects-clearwater-analytics-to-strengthen-third-party-insurance-business-302168617.html

SOURCE Clearwater Analytics

FAQ

What company did M&G Investments select for their investment accounting solution?

M&G Investments selected Clearwater Analytics for their investment accounting solution.

How will Clearwater Analytics benefit M&G Investments' insurance clients?

Clearwater Analytics will automate investment management and regulatory reporting, providing a complete view of investments and meeting complex multi-basis accounting requirements.

What is Clearwater PRISM?

Clearwater PRISM is a client reporting platform for asset managers, offering a comprehensive view of portfolios spanning multiple platforms and consolidating information across various accounting engines and data sources.

What growth opportunities does the partnership with Clearwater Analytics present for M&G Investments?

The partnership enables M&G Investments to expand its Insurance Solutions in international markets experiencing strong growth in insurance and reinsurance.

How does Clearwater Analytics enhance reporting for M&G Investments?

Clearwater Analytics enhances reporting by automating the delivery of monthly investment board packages, increasing efficiency, timeliness, and accuracy.