Adopts Clearwater within its Investment Operating
Model Following the Merger of North P&I and The Standard
Club
BOISE,
Idaho and LONDON,
Aug. 29,
2023 /PRNewswire/ -- Clearwater Analytics (NYSE:
CWAN), a leading provider of SaaS-based investment management,
accounting, reporting, and analytics solutions, today announced
that NorthStandard, one of the world's preeminent marine insurers,
has selected Clearwater to enhance
its investment operations.
The Standard Club has used Clearwater over the last five years and
underwent a strategic merger with North P&I Club in 2023, with
the resulting entity renamed "NorthStandard". The North P&I
Club assets will be integrated onto the Clearwater platform to offer NorthStandard a
consolidated, single lens perspective on investment accounting and
reporting. Clearwater will offer
additional transparency into the investment funds by aggregating
the underlying holdings and providing fund look-through
reporting.
"By selecting Clearwater, we
gain a best-in-class, investment reporting solution that automates
reporting processes, ensures data accuracy, and establishes a
transparent operating model," said Nick
Jelley, Chief Financial Officer at NorthStandard. "The
elimination of manual workarounds and fund reconciliation processes
will allow us to redirect our efforts towards performing a
comprehensive analysis of our portfolios. Embracing cutting-edge
technology ensures we remain at the forefront of innovation in our
industry."
"The Clearwater platform
empowers leading organizations like NorthStandard to grow
seamlessly and scale by providing business leaders with
transparency into their acquisitions," said Scott Erickson, Chief Revenue Officer at
Clearwater Analytics. "Our team is dedicated to driving impactful
change with our state-of-the-art solutions. Clearwater continues to rewrite the playbook
for investment management so our clients can benefit from greater
efficiency, data accuracy, and strategic insight."
To learn more about Clearwater Analytics, speak to an expert
today.
About NorthStandard
NorthStandard is one of the leading providers of global
marine insurance products and services across the maritime
industries. Established through the merger of North P&I Club
and the Standard Club in February
2023 and 'A' rated by S&P Global, NorthStandard has a
premium income around US$800M and
provides cover for over 365 million GT of owned and chartered
tonnage.
From headquarters in the UK and with offices throughout
Europe, Asia and the Americas, NorthStandard offers a
unique blend of worldwide presence and class-leading expertise
across multiple specialist areas, including P&I, FD&D, War
Risks, Strike & Delay, Hull and Machinery and ancillary
insurance. Its Sunderland Marine and Coastal & Inland divisions
also provide cover for owners' fixed premium P&I, fishing
vessels, inland waterway and coastal trading vessels and
aquaculture. NorthStandard's comprehensive local market and sector
knowledge is underpinned by continuous investments in
market-leading digital technologies.
NorthStandard is a leading member of the International Group of
P&I Clubs (IG) and is fully committed to upholding the shared
objectives of its 12 independent member clubs, which provide
liability cover for approximately 90% of the world's ocean-going
tonnage.
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
$6.4 trillion in assets spanning
traditional and alternative asset types. Additional information
about Clearwater can be found
at clearwateranalytics.com.
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SOURCE Clearwater Analytics