analytics on approximately $2 billion in assets for the companyâs insurance investor clients. In addition to Clearwaterâs web-based reporting and analytics, Madison Scottsdale clients will have access to Clearwaterâs full suite of Statutory and NAIC filings for period-end reports.
Madison Scottsdale is a subsidiary of Madison Asset Management, LLC which, in turn, is a subsidiary of Madison Investment Holdings, Inc. (known as Madison Investment Advisors, Inc. prior to December 1, 2010.) The Madison organization currently directs over $15 billion and has been managing assets since Madison Investment Advisors, Inc. was founded in 1974.
âIt is critical that any investment manager hired to manage an insurance companyâs portfolio has a full and complete knowledge of the insurance business, as well as all the best resources at its disposal,â said Jeff Sims, President, Madison Scottsdale, L.C. âThese portfolios cannot be managed in a vacuum, as investment decisions have a direct impact on all aspects of their business. For a firm like Madison Scottsdale, which specializes in managing insurance assets, to not rely on the most sophisticated reporting and analytics technology would be to offer our investors a knowingly inferior level of expertise. As such, employing Clearwaterâs web-based reporting and analytics solution ensures that we are consistently providing our investors with the most timely, transparent and actionable data available.â
The demand for transparency and the need to address emerging accounting issues have stretched legacy systems farther and farther from their original purpose. When these systems are extended beyond their limitations, it is only natural that some functionality falls through the cracks. In that regard, it is fair to say that technology and service providers that offer daily accounting, compliance,
performance and risk reporting and analytics will help insurers deploy resources more effectively and make better decisions.
âInsurers are demanding accurate, timely, actionable information on their investment portfolios and are increasingly open to using technology and outside resources to accomplish their objectives,â said Clearwater Analytics CEO Courtlandt Gates. âInvestment managers that compete successfully in the insurance vertical provide both portfolio management and portfolio information that meets the complex
accounting and analytical needs of their clients.â
Clearwater Analytics offers asset managers the following core system functionality:
â¢ Aggregation and reconciliation of information from multiple data sources
â¢ Daily accounting, compliance, performance and risk reporting and analytics
â¢ Dedicated account managers supporting Clearwaterâs 100% hosted SaaS system
â¢ No installed software or maintenance and no additional IT resources
â¢ Daily compliance monitoring and automated notification of violations
â¢ Cash flow forecasting
â¢ FAS 115-2 Impairment capability
â¢ Single, consolidated view of all investment assets with individual and/or aggregate account views
Insurers also benefit from Clearwaterâs insurance-specific reporting functionality:
â¢ GAAP and Statutory Impairment capability
â¢ Financial Statement Disclosures (i.e. Fair Value Measurement and Impairment)
â¢ Statutory and Schedule D Reports
â¢ Authorized third-party NAIC valuation and pricing administrator