Insurer to Increase Automation, Flexibility, and Control of Investment Accounting and Reporting With Clearwater
Kentucky Employers’ Mutual Insurance (KEMI), the largest provider of workers’ compensation insurance in Kentucky, has selected Clearwater Analytics,® the leading provider of web-based investment accounting solutions for insurers, to provide integrated investment accounting, reporting, and analytics for its $750 million investment portfolio. KEMI wanted more flexible and accessible investment policy compliance and performance reports as well as automated investment accounting and reporting. Clearwater’s robust and user-friendly software-as-a-solution (SaaS) was the obvious choice to meet those needs.
Located in Lexington, KEMI covers more than 22,000 policyholders in the commonwealth. In 2010, KEMI was named to the prestigious Ward’s 50 list for their financial stability as a top performing property and casualty insurer. KEMI has diversified to a multiple asset manager model in order to help maintain that financial stability as it experiences significant company growth. Clearwater’s market-leading integrated investment accounting, compliance policy monitoring, performance measurement, and risk analytics solution will help KEMI easily scale to accommodate more asset managers as the insurer continues to grow.
“Clearwater gives us independent control of our compliance and performance monitoring,” said Dwight Price, Director of Finance of KEMI. “Our asset managers do a great job. But Clearwater is the best choice for KEMI’s independent and integrated accounting, reporting, and compliance monitoring. The combination of our asset managers and the powerful tools from Clearwater give us complete confidence in our investment accounting, reporting, and analytics.”
With Clearwater, KEMI gains:
- Portfolio performance and risk analytics and investment policy compliance monitoring based on accurate accounting data
- Custom reports that KEMI can access at any time to monitor and track data, as needed
- A single web-based solution that simplifies KEMI’s entire investment accounting process
- An automated investment accounting system that eliminates manual processing
“With Clearwater, KEMI has gained a dynamic and powerful yet flexible investment support system,” said Clearwater CEO Dave Boren. “Our experience in providing the highest level of investment accounting and analytics for insurers allows us to prepare and proactively adapt when our clients’ needs change. We’re excited to add KEMI to our expansive list of insurers who have switched to Clearwater to streamline their investment accounting operations.”