The Clearwater platform has been chosen by MSIG Europe, a wholly owned subsidiary of MS&AD Insurance Group, to modernize its operating model, unify data across the investment lifecycle, and meet the demands of the European regulatory environment, including Belgian GAAP, IFRS, and Solvency II, according to an announcement made by Clearwater Analytics today. The company announced the news from Boise, Idaho, New York, Chicago, London, and Hong Kong.
As a result of the combination of tightening regulatory constraints, growing allocations to private markets, and the operational limits of fragmented legacy systems, European insurers are managing the situation. The companies that are advancing the most quickly are integrating their operations onto platforms that provide daily accuracy, automation of compliance, and integrated analytics at widespread scale.
MSIG Europe choose The Clearwater platform
MSIG is a wholly-owned subsidiary of Mitsui Sumitomo Insurance and a member of the MS&AD Insurance Group. Which is one of the most prominent non-life insurance brands in Asia. And also has presence in fifty countries throughout the world. MSIG’s Asia office and several business units have successfully implemented Clearwater. With the help of Clearwater, MSIG Europe will now be able to provide its Group’s investment and finance teams. With a unified and uniform perspective of their worldwide portfolio. And also the operational efficiency necessary to concentrate on strategic priorities that will lead to growth of firm.
“Clearwater gives us a single, reliable source of investment data, separate from our custodians and asset managers,” said Lise Lombard Dumont, CFO at MSIG Europe. “It helps us keep our data clean and consistent, supports our accounting and reporting needs, and gives us the flexibility to grow and explore new investment opportunities.”
“MSIG Europe is operating in one of the most complex regulatory environments in the world, and that complexity requires a modern investment platform built for accuracy, control, and scale,” said Keith Viverito, Managing Director of EMEA at Clearwater Analytics. “Clearwater gives European insurers a single foundation and workflow for investment data, accounting, regulatory reporting, and analytics, so teams can move faster with greater conviction.”
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News Source: Businesswire.com
