CorePointe Buys Analytics Solution from Clearwater
P&C insurer looks to investment accounting, reporting and analytics software in an attempt to achieve greater transparency, control and scalability.
Virtual Water Cooler, October 17, 2012
CorePointe Insurance, a P&C insurer for auto and truck dealers, has selected Clearwater Analytics to provide consolidated investment accounting, reporting and analytics on its roughly $200 million investment portfolio. Clearwater is a provider of web-based investment accounting and portfolio reporting and analytics.
Clearwater says CorePointe is led by an experienced management team that is pushing an organizational initiative to become more efficient; the insurer specifically sought a fully outsourced solution for Schedule D reporting that would help it improve efficiency at month's end.
CorePointe is hoping to get an investment accounting platform that will satisfy its statutory reporting needs, and give it the flexibility to analyze its portfolio in a number of different ways. According to Clearwater, CorePointe will be able to split out its portfolio across liquidity, statutory and discretionary accounts. The insurer also gains analytics capabilities to complement this investment accounting functionality, as well as a system that is designed for scalability as it grows.
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