Clearwater Analytics announces strategic alliance with J.P. Morgan to offer comprehensive solutions for insurance companies

Clearwater Analytics has announced a strategic alliance with J.P. Morgan’s Securities Services to provide global insurance clients with the ability to bundle multi-basis investment accounting and regulatory reporting with custody and comprehensive fund services. This solution leverages best-in-class technology to automate investment accounting and regulatory reporting for both insurance separate account and general account portfolios.

Clearwater Analytics is the insurance industry’s leading SaaS solution and services provider for investment general ledger, accounting, NAIC reporting, Solvency II support, and portfolio analytics. Each day, Clearwater Analytics’ SaaS solution consolidates, reconciles, and reports on more than $4 trillion in assets for institutional investors worldwide.

The two firms have identified a common and shared challenge among large insurers globally: the need for a comprehensive and integrated service spanning custody, investment and fund accounting, and regulatory reporting for their general account and separate account portfolios. Through this alliance, J.P Morgan and Clearwater Analytics clients will benefit from full integration of data and reconciliation processes in receiving automated investment accounting and regulatory reporting — including Statutory, Tax, GAAP, IFRS, and Solvency II.

This new offering is rooted in the productive, ongoing partnerships between these global leaders. Clearwater Analytics has delivered investment accounting and reporting to J.P. Morgan Asset Management clients in North America, EMEA, and APAC for nearly 15 years. In particular, separate account services are the next step in the productive collaboration, enabling both firms to remain at the vanguard of financial and technology services.

“We have been extremely impressed with Clearwater’s technology, business success, leadership team and innovative culture. The combination of J.P. Morgan’s Securities Services and Clearwater’s innovative technology allows us to continue to deliver innovative solutions to the global insurance industry,” said Tim Fitzgerald, Global Head of Fund Services, J.P. Morgan.

“For a decade-and-a-half, Clearwater has partnered closely with J.P. Morgan. Our companies complement one another well, to the benefit of our customers,” said Sandeep Sahai, Chief Executive Officer at Clearwater Analytics. “We are excited to start this new venture with Securities Services, and to create a joint solution for the insurance industry.”