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Kentucky Employers’ Mutual Insurance taps Clearwater Analytics

Kentucky Employers’ Mutual Insurance (KEMI), a provider of workers’ compensation insurance in Kentucky, has selected Clearwater Analytics, a provider of web-based investment accounting solutions for insurers.

Clearwater Analytics will offer integrated investment accounting, reporting, and analytics for KEMI’s $750m investment portfolio.

It will provide 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; and an automated investment accounting system that eliminates manual processing.

KEMI was seeking a more flexible and accessible investment policy compliance and performance reports as well as automated investment accounting and reporting. The company selected Clearwater Analytics due to robust and user-friendly software-as-a-solution (SaaS).

KEMI noted that Clearwater’s integrated investment accounting, compliance policy monitoring, performance measurement, and risk analytics solution will enable the company to easily scale to accommodate more asset managers as the insurer continues to grow.

KEMI director of finance Dwight Price said that Clearwater gives the company independent control of the company’s compliance and performance monitoring.

"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," Price said.