Your success as an insurer is in direct proportion to how fast you can respond to change. One thing that can stand in the way of true scalability is your investment accounting software provider.
Many insurers have been slow to keep up with the unique demands of today’s accounting and finance departments. They use technology developed years ago, and their providers’ contracts have been similarly slow to evolve. Although they are often touted as “standard for the industry,” these contracts offer little flexibility and little incentive to continually earn insurers’ business.
Don’t accept the idea that convoluted contracts with unfavorable terms are standard in the investment accounting and reporting software industry. An agreement should meet your specific business needs, give you flexibility to change if change becomes necessary, and commit a vendor to exceptional service.
Here are contract practices of investment accounting and reporting software providers so you know what to look for—and avoid—when presented with a contract.
At Clearwater, we’re committed to a software as a service model that emphasizes scalability and continuous improvement. And like our service, our contracts give you the flexibility to adapt to changes, featuring terms that are simpler and more straightforward. Discover Clearwater Analytics’ powerful investment accounting and reporting solution and our no-nonsense approach to contracts.