Clearwater Analytics® announced today that Unum Group has selected Clearwater’s cloud-based investment accounting and reporting solution to provide validated portfolio data, investment book of record accounting, and transparent real-time portfolio reporting.
Unum will utilize Clearwater’s integrated accounting, compliance, performance, and risk solution to sunset more than 20 home-grown and third-party systems across its investment operations. The multi-asset class, multi-currency, and multi-basis accounting solution will enable Unum to more efficiently manage its global portfolio. Unum’s investment team will also leverage Clearwater to automate regulatory disclosures, general ledger integration, and other period-end close processes.
A leading provider of financial protection benefits in the US and UK, Unum is committed to helping employers manage their businesses and employees protect their livelihoods. Clearwater’s accurate portfolio data and transparent reporting is a strategic choice for Unum as they continue to build financial strength to serve their customers.
“Clearwater’s automated system represents a technological leap in Unum’s investment operations infrastructure and is key to maximizing efficiency of our investment operations with high-quality data analytics,” said Breege Farrell, Chief Investment Officer at Unum Group.
“We are excited to welcome Unum Group to our network of global insurers,” said Scott Roza, President of Worldwide Field Operations at Clearwater. “Unum is unique in many ways given their leadership in the market, the customers they serve, and the nature of the investment portfolio. We look forward to working with Unum to enhance their investment accounting and reporting processes, and learning from them in the process.”