AIG to Partner with Clearwater Analytics on Investment Portfolio Data Management
November 13 2017 - 7:00AM
Business Wire
American International Group, Inc. (NYSE:AIG) and Clearwater
Analytics® announced today that they will partner to execute
technological enhancements to the global insurance organization’s
investment data management.
Clearwater, an automated SaaS solution that reports on more than
$2.2 trillion in assets daily, will provide AIG a cloud-based,
highly scalable software platform that offers daily reconciled
investment portfolio data, accounting entries, and reporting tools.
The data management system will support AIG’s more than $250
billion in fixed income securities, equity investments, and
residential mortgage loans.
“Partnering with Clearwater will allow us to further shift focus
from collecting data to analyzing it, so that we can support AIG’s
objectives and investment strategies,” said Elias Habayeb, Deputy
Chief Financial Officer at AIG. “With Clearwater’s expertise and
their platform’s scalability, we are excited to take this decisive
action in promoting technological excellence and operational
efficiency.”
“Establishing Clearwater as the core platform for its investment
data management will provide AIG with greater freedom and
flexibility, positioning the organization for future growth as it
evolves investment strategies and asset classes,” said Dave Boren,
Chief Executive Officer of Clearwater Analytics. “Clearwater’s
automated solution can also support future integration efforts for
mergers, acquisitions, and other growth strategies. AIG is a
natural fit for Clearwater’s best-in-class platform and we look
forward to a long and productive collaboration between our
firms.”
About AIG
American International Group, Inc. (AIG) is a leading global
insurance organization. Founded in 1919, today AIG member companies
provide a wide range of property casualty insurance, life
insurance, retirement products, and other financial services to
customers in more than 80 countries and jurisdictions. These
diverse offerings include products and services that help
businesses and individuals protect their assets, manage risks and
provide for retirement security. AIG common stock is listed on the
New York Stock Exchange and the Tokyo Stock Exchange.
Additional information about AIG can be found at www.aig.com |
YouTube: www.youtube.com/aig | Twitter: @AIGinsurance
www.twitter.com/AIGinsurance | LinkedIn:
www.linkedin.com/company/aig. These references with additional
information about AIG have been provided as a convenience, and the
information contained on such websites is not incorporated by
reference into this press release.
AIG is the marketing name for the worldwide property-casualty,
life and retirement, and general insurance operations of American
International Group, Inc. For additional information, please visit
our website at www.aig.com. All products and services are written
or provided by subsidiaries or affiliates of American International
Group, Inc. Products or services may not be available in all
countries, and coverage is subject to actual policy language.
Non-insurance products and services may be provided by independent
third parties. Certain property-casualty coverages may be provided
by a surplus lines insurer. Surplus lines insurers do not generally
participate in state guaranty funds, and insureds are therefore not
protected by such funds.
About Clearwater Analytics
Clearwater Analytics® aggregates, reconciles, and reports on
more than $2.2 trillion in assets across thousands of accounts
daily. For more than a decade, Clearwater has helped firms such as
Mutual of Omaha, Arch Capital Group, Wilton Re., J.P. Morgan Asset
Management, Facebook, Cisco, Oracle, and many others, streamline
their investment and accounting operations. Clearwater remains
committed to continuous improvement and encourages insurers to
rethink how they approach their investment accounting and reporting
challenges.
Additional information about Clearwater can be found at
www.clearwater-analytics.com | LinkedIn:
https://www.linkedin.com/company/62775/ | Twitter: @cwanalytics
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version on businesswire.com: http://www.businesswire.com/news/home/20171113005249/en/
Clearwater AnalyticsAlex Goochey, 208-489-3916Content Managing
Editoragoochey@clearwateranalytics.com
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