MSIG Asia Selects Clearwater Analytics for Investment Analytics and Investment Reporting

Rhea-AI Summary

Clearwater Analytics (NYSE: CWAN) has been selected by MSIG, a subsidiary of Mitsui Sumitomo Insurance, to support its transformation strategy and standardize its operational model. This partnership aims to provide a consolidated view of data and analytics across MSIG's entities in Asia, including Hong Kong, Malaysia, and Thailand. MSIG will utilize Clearwater's Insurance-Investment Accounting as a Service (IAaaS) platform to enhance digital capabilities and support growth while reinforcing its market position in the region.

Positive

• Partnership with MSIG to provide investment accounting and reporting solutions.
• MSIG seeks to enhance its infrastructure and digital capabilities, aligning with Clearwater's strengths.
• Clearwater's platform supports growth and provides a digital experience across investment and finance teams.

Negative

• None.

LONDON, May 17, 2022 /PRNewswire/ -- 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."

About Clearwater Analytics

As the industry-leading SaaS solution for investment accounting and reporting, Clearwater enables growth of assets under management (AUM) for more than 1,100 clients including pension plans, governments, global insurers, asset managers, and corporations. Each day, Clearwater automates data collection, reconciliation, compliance, risk, and performance reporting across $5.9T of AUM with its comprehensive cloud platform and best-in-class service team.  Additional information about Clearwater can be found at clearwateranalytics.com, LinkedIn, and Twitter.

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SOURCE Clearwater Analytics

FAQ

What did MSIG announce on May 17, 2022, regarding Clearwater Analytics?

MSIG announced it has selected Clearwater Analytics for its transformation strategy to standardize operations and enhance data analytics.

How will MSIG benefit from using Clearwater's platform?

MSIG will leverage Clearwater's IAaaS platform to improve digital capabilities, streamline operations, and support investment strategies.

What is Clearwater Analytics' market focus?

Clearwater Analytics focuses on providing SaaS solutions for investment data aggregation, reconciliation, accounting, and reporting, especially in the APAC region.

What is the significance of the partnership between MSIG and Clearwater Analytics?

The partnership signifies MSIG's commitment to innovation and improving operational efficiency through Clearwater's advanced technology.