Redefining High Performance in the Insurance Finance Function

This white paper presents the insurance-specific results of Accenture’s 2011 High Performance Finance Study. Its main finding is that despite—or perhaps because of—the difficulties insurance companies have had to endure, their finance functions have improved their capabilities and are providing an enhanced service to their internal clients.

The document argues that the shift in focus from cost reduction to growth has important implications for insurers’ investment priorities. It also discusses ways of dealing with permanent volatility, workforce challenges and the need to capitalize more fully on valuable data. It concludes with a description of the attributes that characterize the masters of finance.

Specifically, we note:

• Improved performance in the past three years.
• Increasing complexity on the horizon.
• The need to shift from reducing costs to driving growth.