Insurance company implements multi-manager operating model using Rivvit

Client Profile

An Insurance Holding Company partnering with leading insurers and reinsurers to provide world-class products and services to middle market consumers. 

Business Situation

This client was implementing an exciting growth strategy to acquire and partner with insurance companies and reinsurance companies by selectively investing in and enhancing the underlying portfolio company capabilities to activate new growth and distribution opportunities.  

While working with Grandview to develop a single platform to consolidate data across its underlying portfolio companies, external managers, and internally managed portfolios, the client determined the need to enhance its ongoing reporting and analysis capabilities. This included the need for integration and storage of data from Clearwater, Aladdin, and internal data sources to get daily risk, compliance, and accounting calculations.  

The client decided to adopt Grandview’s Rivvit software for insurance data management and reporting.  

Grandview's Role

  • Integrated Rivvit’s Investment Data Warehouse with Blackrock Aladdin and Clearwater Analytics. Configured self-service portal with customized dashboards, reports, and data quality exception management (DQM).
  • Delivered multi-asset class security master supporting over 4,500 unique public and private securities.
  • Configured data hierarchy to support a single source of truth for each data element across upstream data sources.
  • Implemented fuzzy matching logic to overcome inconsistent security identifiers from source systems.

Results

In just three months, and one month ahead of schedule, Rivvit was configured to support the following business cases in a production environment:

  • View ABOR data from Clearwater alongside IBOR data from BlackRock Aladdin.
  • Reconcile and view discrepancies between ABOR and IBOR .
  • Create gold copy records across portfolios, positions, and securities.
  • Store historical, time series data from both Clearwater and BlackRock in a data warehouse.
  • Elect a source of truth for every data element using Rivvit’s data source hierarchy.
  • Calculate RBC charges based on the standard NAIC rating scale.
  • Monitor investment guidelines at a consolidated and portfolio company level.
  • Automate board reports for the holding company, portfolio companies, and external managers.
  • Produce customized risk dashboards based on an automated daily process.
  • Detect and resolve data quality issues through an exception management workflow.