Clearwater Analytics® and Aureum Re announced today that Aureum Re has selected Clearwater’s web-based solution and services for investment data aggregation, reconciliation, accounting, reporting, and other daily processing.
Established in 2016, Aureum Re focuses on the reinsurance of fixed and indexed annuities issued by U.S. domiciled insurance companies. Leveraging Clearwater’s advanced technology and daily servicing is crucial to the establishment of Aureum Re’s efficient, accurate, and data-driven client offering.
“To achieve our goals and maintain scale, we knew we required a best-in-class investment accounting/reporting solution. We simply needed a more streamlined and automated tool than our current process could provide. A solution that put technology first was critical,” said Jim Owen, Chief Financial Officer at Aureum Re. “We found Clearwater through a thorough evaluation process and the partnership has been productive from the start. Our whole team uses Clearwater and we utilize the dashboards for investment committee and board reporting. It’s use for our firm is highly beneficial given that we are a spread business which requires active monitoring of our investment portfolios. The software and service team has delivered on its promises.”
Clearwater provides daily servicing to more than 600 insurers worldwide, including many reinsurers. Key benefits of the solution to insurers include more efficient and scalable operational processes through automation and outsourced data upkeep; shortened month-end close times; flexible board, cross-team, and other constituent reporting; regulatory support; and more.
“Aureum coming on as a client represents an exciting opportunity for both firms. We’ve focused on growing our business globally and in doing so have found that the advantages of our true SaaS-based model provide value regardless of geography,” said Scott Erickson, Chief Operating Officer at Clearwater. “We’ve built out a strong team of experts to act as an extension of Aureum and seamlessly integrate with their team, as they grow. We look forward to being an active participant in the Cayman domicile for years to come.”