BOISE, Idaho--(BUSINESS WIRE)--American International Group, Inc. (NYSE:AIG) and Clearwater Analytics® announced today that they 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.”
American International Group, Inc. (AIG) is a leading global insurance organization. Founded in 1919, today AIG member companies provide a wide range of property casualty insurance, life insurance, retirement products, and other financial services to customers in more than 80 countries and jurisdictions. These diverse offerings include products and services that help businesses and individuals protect their assets, manage risks and provide for retirement security. AIG common stock is listed on the New York Stock Exchange and the Tokyo Stock Exchange.
Additional information about AIG can be found at www.aig.com | YouTube: www.youtube.com/aig | Twitter: @AIGinsurance www.twitter.com/AIGinsurance | LinkedIn: www.linkedin.com/company/aig. These references with additional information about AIG have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release.
AIG is the marketing name for the worldwide property-casualty, life and retirement, and general insurance operations of American International Group, Inc. For additional information, please visit our website at www.aig.com. All products and services are written or provided by subsidiaries or affiliates of American International Group, Inc. Products or services may not be available in all countries, and coverage is subject to actual policy language. Non-insurance products and services may be provided by independent third parties. Certain property-casualty coverages may be provided by a surplus lines insurer. Surplus lines insurers do not generally participate in state guaranty funds, and insureds are therefore not protected by such funds.
About Clearwater Analytics
Clearwater Analytics® aggregates, reconciles, and reports on more than $2.2 trillion in assets across thousands of accounts daily. For more than a decade, Clearwater has helped firms such as Mutual of Omaha, Arch Capital Group, Wilton Re., J.P. Morgan Asset Management, Facebook, Cisco, Oracle, and many others, streamline their investment and accounting operations. Clearwater remains committed to continuous improvement and encourages insurers to rethink how they approach their investment accounting and reporting challenges.