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Accenture surveyed 1250 chief executive officers and senior financial executives from twelve industry sectors and nine major economies across the globe as part of its “Preparing for Growth, The Accenture 2013 CFO Study.”
The surveyed insurance finance executives (6 percent of total respondents) are optimistic about revenue growth (89 percent), yet this optimism is tempered as they see obstacles in their path to growth – increasing competition (39% percent) and government leadership changes (34 percent).
Insurance industry survey respondents realize that holding cash can present risks and prefer to refinance debt rather than pay it off. They are also planning selective business investments over the next three years. These investments are expected to help achieve improved information and analytics to strengthen decision making (54 percent), reduce cycle times for core business processes (50 percent) and enhance product or service quality (46 percent).
Among their strategic priorities, over a third (35 percent) of insurance executives surveyed claim they give equal consideration to cost reduction and growth.
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February 7, 2014
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