BOISE, Idaho — Clearwater Analytics® announced today that Pinnacol Assurance has selected Clearwater’s web-based investment accounting and reporting solution to provide validated portfolio data, investment book-of-record accounting, and transparent real-time portfolio reporting.
Pinnacol provides workers’ compensation insurance to more than 57,000 employers, with coverage to nearly one million workers across the state of Colorado.
Pinnacol chose Clearwater after a comprehensive evaluation process. Pinnacol recognized Clearwater’s innovative technology combined with best-in-class client servicing was a significant improvement over Pinnacol’s previous model, a fully outsourced investment accounting and reporting service. In contrast, Clearwater’s SaaS solution provides efficiency through automation, and is supported by dedicated teams of operations and accounting experts for improved daily processes and day-to-day transparency.
“We are impressed by Clearwater’s client-focused business model and technology. Working closely with a dedicated servicing group who can provide an industry-wide perspective on operational improvements and provide a technology solution that will make our processes more efficient, will be a big step forward for us,” said Alicia Allen, Associate Vice President of Finance at Pinnacol Assurance.
“We are excited to partner with Pinnacol Assurance and develop a long-lasting relationship with its accounting team. We are pleased they chose Clearwater’s superior model for investment accounting and reporting,” said Scott Erickson, Chief Operating Officer at Clearwater.