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Serious about growth? 3 moves that insurance CFOs must take

Insurers say a move toward a single, enterprise-wide risk and finance repository will happen within 2 years' time. But legacy systems, and diverse stakeholders put up roadblocks. Learn how to juggle priorities while managing a shift toward growth.

By Chris Johnston | Updated on February 11, 2015

It has never been easy being an insurance company CFO. In addition to the issues created by complex legacy systems and organizational models–and the move to digital transformation–CFOs in recent years have had to deal with new risk, regulatory and compliance requirements. 

As part of Accenture’s 2014 High Performance Finance Study–in which we spoke to more than 600 CFOs and senior finance officers in multiple industries–we surveyed more than 75 individuals from major P&C and life insurance companies worldwide. We found that insurance CFOs, like finance officers in other industries, have added “achieving growth” to an already long list of high priorities. This means that, in addition to their ongoing focus on operational cost management, insurance finance executives are making plans and investments that will create a solid foundation for future growth. Executing on these plans, however, will not be easy.

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