Clearwater Analytics, the provider of web-based investment accounting and reporting solutions for insurance companies, announced the availability of several new features and reports designed to facilitate reporting on growing asset classes, identify portfolio risks, and further automate reporting needs.

Clearwater has added more functionality for Legal Entity Identifiers (LEI) and created new statements to assist clients in filling out Schedule BA and Supplemental Investment Risk Interrogatory reports.

To continue to support the industry adoption of LEI requirements, Clearwater has released enhanced and automated LEI functionality to support the addition of the identifier numbers on any report, using data from a leading third-party provider. "Not only does Clearwater support LEI, we are automatically populating the LEI data field, which eliminates the manual component of LEI data compliance and saves our clients both time and effort," said Dwayne Kreipl, Director of Data Management for Clearwater.

With the current low interest rate environment, insurance companies are increasing their exposure to BA assets in an attempt to generate higher investment yield. Clearwater’s new Schedule BA functionality helps insurance companies further support this growing asset class.

Because insurers’ portfolios are under greater scrutiny than ever before, it is important that they’re preparing accurate accounting data for ancillary reports such as the Supplemental Risk Interrogatories. Clearwater has long supported the preparation of this report, but has added additional functionality to further aid how regulators identify and analyze risk in an insurance company’s investment portfolio.

Clearwater has also added additional functionality to help insurance companies prepare annual survey reports for A.M. Best, Fitch, and S&P ratings providers. New functionality includes templates to help facilitate the reporting of the C-1 Asset Risk and Liquidity Survey for S&P, the Supplemental Investment Survey for Fitch, and selected parts of A.M. Best Reporting, including the Single Large Exposure and Mortgage-Backed Securities Exposure reports, as well as the Portfolio Analysis section.

"Insurance companies have traditionally struggled to complete credit rating reports because they have difficulty getting data and they rely on manual processes," said Richard Pullara, Manager of Insurance Solutions for Clearwater. "With the addition of these reports, insurers will be better equipped to produce optimal survey reporting, including A.M. Best reporting."

"Clearwater’s number one priority is to address the needs of its clients," said Scott Erickson, Clearwater’s Director of Client Services and Product Management. "As the only integrated investment portfolio reporting and analytics solution, Clearwater continues to lead the way by providing insurance clients with new and enhanced functionality — like new Schedule BA support, enhanced Supplemental Risk Interrogatory capabilities, and more — every month to ensure that they have the tools needed to provide accurate and timely reporting."