American International Group (AIG) and Clearwater Analytics 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.”