Lloyd’s Insurer Apollo Adopts Clearwater Analytics for Streamlined Investment Accounting

July 6, 2023

Key Takeaways:

  • Clearwater Analytics, a top-tier SaaS provider of investment management and accounting solutions, will be automating and streamlining Apollo’s investment accounting processes.
  • Clearwater’s solution offers data aggregation, trade reconciliation, and reporting on a single integrated platform.
  • The implementation aims to enhance Apollo’s AUM growth strategy, mitigate risk, and improve accuracy in regulatory reporting.

About Clearwater Analytics and Apollo

Boise, Idaho-based Clearwater Analytics (NYSE: CWAN) is a leading SaaS solution provider in investment management. Its wide range of services includes investment portfolio planning, performance reporting, data aggregation, reconciliation, accounting, compliance, risk, and order management. Clearwater’s trusted data aids leading insurers, asset managers, corporations, and governments in managing more than $6.4 trillion in assets across traditional and alternative asset types.

Apollo is a leading specialist (re)insurer and service company at Lloyd’s, with a diverse range of product offerings. The company stands out for its entrepreneurial approach and service excellence, providing high-quality products and services to clients, brokers, and capital partners. Currently, Apollo manages assets worth $500 million.

Streamlining Investment Accounting Processes

Following an extensive market review of available solutions, Apollo has selected Clearwater Analytics to automate and streamline its investment accounting processes. The new system is expected to enhance Apollo’s AUM growth and mitigate risk. Moreover, the automated data aggregation, reconciliation, and reporting provided by Clearwater will improve the efficiency and accuracy of Apollo’s regulatory reporting processes.

The implementation will provide Apollo with a comprehensive daily view of its portfolio across all asset classes, automating previously manual processes. The improved efficiency will free up Apollo’s resources to focus more on strategic initiatives and value-added activities.

An Exciting Partnership for Growth and Innovation

Expressing her enthusiasm for the collaboration, Apollo’s CFO, Taryn McHarg said, “Clearwater is expected to automate our manual processes and provide a daily comprehensive view of the entire portfolio across all asset classes. Clearwater Analytics’ commitment to innovation and their track record of delivering superior investment accounting software and services make them the ideal long-term partner for our evolving needs.

Scott Erickson, Chief Revenue Officer at Clearwater Analytics, also welcomed the partnership. “We continue to see significant demand for our unique and powerful offerings from many insurers, including the majority of Lloyd’s syndicates. Our solutions provide a single pane of glass to understand underlying data across investment portfolios and support Lloyd’s reporting as well as Solvency II, IFRS 9, and others. Navigating the dynamic investment landscape and growing your business are simple to do with Clearwater at your fingertips.”

With this partnership, both companies are set to reap significant benefits—Apollo will streamline its operations and reporting, and Clearwater Analytics will expand its presence in the Lloyd’s insurance market.

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