Pool Re | Partners with Clearwater Analytics to support its investment accounting and reporting processes

Pool Re

Pool Re is the insurance industry’s mutual for reinsuring terrorism risk in Great Britain and an Arm’s Length Body of HM Treasury (HMT). It exists to protect Britain’s economy and safeguard society and livelihoods from acts of terrorism.

• Website https//www.poolre.co.uk/

Pool Re, Britain’s government-backed terrorism reinsurer with funds of £7.0bn, will transition from a custodian-based model to Clearwater’s market-leading investment accounting and reporting platform. They will leverage Clearwater’s single instance, multi-tenant platform to streamline and modernize their finance and investment processes. The adoption of Clearwater will enable Pool Re to achieve highly efficient monthly close processes and empower all departments with timely and accurate data. The scalability and flexibility of the Clearwater platform will also enable Pool Re to rapidly adapt to evolving market dynamics and HM Treasury reporting requirements.

• 1993 founded
• £7 billion in funds
• £2 trillion of liabilities insured by Pool Re

Challenges

• Needed to modernize and streamline finance and investment processes
• Custodian model was not scalable or flexible to meet their needs
• Needed to increase efficiency in their monthly close process

Results

• Access to timely and accurate data
• Ability to rapidly adapt to evolving market dynamics
• Flexibility of a modern, cloud-based solution that scales with their growth

“Adopting Clearwater Analytics is a big step forward in modernizing our investment operations to better serve our members and the broader UK insurance market.”

Tom Clementi, CEO at Pool Re