FBD Insurance Selects Clearwater Analytics for Investment Accounting and Reporting

FBD expects Clearwater’s automated data and capabilities to improve the Irish insurer’s operational efficiency, risk clarity, and data accuracy.

(Parliament Square, Trinity College in Dublin, home of FBD Insurance. Photo credit: Eric Jones.)

FBD Insurance (Dublin), the largest agri-sector insurer and the one of the largest non-health general insurers in Ireland, has selected Clearwater Analytics (Boise, Idaho) to provide its investment accounting, reporting, and analytics solution.

Clearwater will provide FBD with automated and verified investment accounting data and integrated compliance monitoring, risk awareness, performance analysis, and multinational regulatory reporting across its 34 branch offices to improve FBD’s operational efficiency, risk clarity, and data accuracy, the vendor reports. Clearwater says its user-friendly platform will simplify FBD’s overall investment accounting process without increasing their reliance on internal IT teams, even as FBD explores more complex investment strategies.

“The reporting timeliness and data visibility Clearwater will provide is a huge asset,” comments Peter Jackson, Head of Investments for FBD. “Clearwater will also improve our investment data aggregation, accuracy, and access.”

Clearwater describes the assets provided to FBD by its system as follows:

  • An automated investment accounting and reporting solution
  • Integrated portfolio performance and risk analytics
  • Timely investment policy compliance monitoring
  • Customized reporting capabilities for portfolio transparency
  • A world-class client services team providing proactive industry expertise
  • Seamless and scalable regulatory report integration, including for Solvency II
  • A user-friendly, integrated web-based solution

“At Clearwater, we leverage the power of best-in-class technology to streamline processes for insurers of all sizes and types,” comments Mike Boren, COO, Clearwater. “We are excited to partner with FBD to help them discover how automation and web-based technology can improve every level of their investment accounting and reporting.”

“Clearwater has a proven track record with other European companies, which gave us additional confidence in the solution,” adds FBD’s Jackson. We know Clearwater is the best choice to support our growing portfolio and complex reporting need.”

Clearwater Analytics Improves Investment Policy Compliance Monitoring

Anthony R. O’Donnell // Anthony O'Donnell is Executive Editor of Insurance Innovation Reporter. For nearly two decades, he has been an observer and commentator on the use of information technology in the insurance industry, following industry trends and writing about the use of IT across all sectors of the insurance industry. He can be reached at [email protected] or (503) 936-2803.

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