Pool Re, the UK government-backed terrorism reinsurer, has chosen Clearwater Analytics as its investment accounting and reporting partner. With £7.0 billion in funds, Pool Re will transition from a custodian-based model to Clearwater’s SaaS platform. This partnership signifies a significant modernization effort for Pool Re’s financial operations.
Streamlining Investment Operations with a Modern Platform
Clearwater Analytics’ single-instance, multi-tenant platform will provide Pool Re with streamlined and modernized finance and investment processes. By leveraging Clearwater’s technology, Pool Re aims to achieve:
- Efficient Monthly Close Processes: Clearwater’s automated solutions will significantly reduce the time and effort required for monthly financial reporting.
- Data-Driven Decision Making: Access to timely and accurate data will empower all departments within Pool Re to make informed strategic decisions.
- Scalability and Flexibility: The Clearwater platform is designed to adapt to evolving market conditions and regulatory requirements, including HM Treasury reporting standards. This ensures Pool Re remains compliant and agile in a dynamic financial landscape.
A Strategic Partnership for Enhanced Reporting
This partnership marks a significant step in Pool Re’s commitment to modernizing its investment operations. According to Tom Clementi, CEO at Pool Re, Clearwater Analytics will “significantly improve the timeliness and accuracy of our data and enable strategic decision making.” The move to Clearwater’s platform demonstrates Pool Re’s dedication to serving its members and the broader UK insurance market effectively.
For Clearwater Analytics, this collaboration represents an expansion of its presence in the UK market. Keith Viverito, General Manager of EMEA and APAC at Clearwater Analytics, emphasized Pool Re’s forward-thinking approach, stating that “choosing the Clearwater platform means Pool Re isn’t just keeping pace – they’re setting it.” He highlighted Pool Re’s crucial role in the UK economy and its connection to HM Treasury.
