Update Includes New NAIC Designation Categories, Solvency II Reporting Enhancements, Hybrid/Mixed Benchmark Methodology, and More

Boise, Idaho, September 6, 2022 /PRNewswire/ — Clearwater Analytics (NYSE: CWAN), a leading provider of SaaS accounting, reporting and investment analytics solutions, today announced that it has delivered new product features and enhancements during Q2 2022 to support the latest accounting and reporting standards, enrich asset class reporting and improve user experience.

“We are extremely proud of our product enhancements in the second quarter that incorporate customer requests, delivering new capabilities that enable operational efficiencies, regulatory compliance and faster decision-making,” said Souvik Das, Chief Technology Officer at Clearwater Analytics. “Our team has been focused on improvements that speed up transaction processing time, reduce manual effort with NAIC reporting and other regulatory requirements, and simplify decision-making. With just a few clicks, our clients can act quickly about the data they trust using Clearwater’s best-in-class reporting capabilities and gain an enviable competitive advantage. »

Quarterly Updates to NAIC Guidelines

To keep insurers informed of the latest changes in regulatory guidelines regarding investment accounting and reporting, Clear water Made several enhancements to NAIC reporting that allow our customers to have more accurate and timely reporting for NAIC regulatory guidelines.

  • Updates to NAIC designation categories. In this release, NAIC designations have been replaced with NAIC designation categories (NAIC designations with modifier) ​​to align with the increase in NAIC designations.
  • Schedule D and Schedule DB Updates. With updates to Parts 1-5 of Appendix D and Appendix DB for Derivatives, Clear water Improved our offering of in-depth, logical reports that align with our customers’ specific data fields, providing greater accuracy.
  • Risk-based capital (RBC) reports. With risk-based capital reports, Clear water updated the adjusted book value of mortgage loans. This update provides greater accuracy in reporting that conforms to RBC reporting and NAIC designations.

New improvements for Solvency II reports

Given that insurers have one year to prepare for the new Solvency II reporting requirements, Clear water has created a new tool that allows customers to replace input values ​​with desired values ​​for SCR calculations.

Introduction of the Hybrid/Blended Benchmarks methodology

To meet specific benchmark needs that require a combination of data sources, hybrid benchmarks have been introduced so that our clients can combine two or more indices on a percentage basis, allowing for more in-depth and accurate reporting and analysis.

New “universal close” price type for listed derivatives

Clear water has further broadened the scope of its pricing offering to include more accurate price assessments of listed derivatives.

Updated calculation for Clearwater LPx

Clear water updated its rules for calculating the net asset value (NAV) of limited partnerships to bring Clearwater’s Rules for calculating net asset value consistent with those set out in the Institutional Limited Partnership Association Model Principles, Practices and Policies.

New cash flow and yield analysis reports

The new “Cash Flow and Yield Analysis” reports are batch-level reports that include key data points to provide users with greater insight into depreciation calculations and entries. Reports include data such as cash flow source and cash flow effective date, amortization adjustment dates, interest accrual guidelines, and future cash flow projections summarized at lot level.

Further information

  • Watch the NAIC Updates Summer 2022 National Meeting Overview on-demand webinar to hear the latest updates to investment accounting guidelines.
  • Register to attend Clearwater Connect 2022, our annual conference where the brightest minds in accounting and finance will come together and get an exclusive first look at Clearwater’s world-class technology, learn industry best practices, and network with leading thought leaders and practitioners from around the world.

About Clearwater Analytics

Clearwater Analytics is an industry-leading SaaS solution for automated investment data aggregation, reconciliation, accounting, compliance, risk, performance and reporting. Every day the Clear water solution report on more than $5.9 trillion assets for clients that include leading insurers, asset managers, corporations, pension plans, governments and nonprofits – helping them get the most out of their data investment portfolio with world-class product and client-centric service. Trusted by investment professionals around the world Clear water to provide validated and timely investment data and analysis. Additional information about Clear water can be found at clearwateranalytics.com, LinkedInand Twitter.

SOURCE Clearwater Analytics