How can you transform laborious strategic planning exercises into activities which generate competitive advantages? Our fully-integrated financial analytics application for FP&A teams in Property & Casualty companies could be the answer. The MPX Insur application benefits from a pre-configured P&C business value driver model and from the underlying, finance-aware Metapraxis Empower technology platform.
Perhaps some of the following challenges are familiar to you. Your team is still working on the 3-5 year strategic plan months after you began or you feel that the last planning exercise was not effective enough. Multiple inputs and versions are creating a reconciliation nightmare and your best people are exhausted with yet another turn of the plan. And when management adjustments are made, it is difficult to trace the data provenance and explain it to your business partners.
You are not alone. Many Finance teams spend around 80% of their time on manual data consolidation, Excel-based scenario models that are hard to maintain, and management of finance processes rather than insights. The COVID-19 pandemic has exacerbated process- and system-related challenges of finance organizations in Insurance. More than ever, business need capabilities to produce multiple scenarios to model a complex and fast-changing real-world scenarios in which changes in revenue forecasts, loss trends, investment results as well as expense management initiative and capital requirements are automatically linked.
MPX Insur, built on Metapraxis Empower technology, has been created with input from FP&A specialists in insurance. This planning, forecasting, and scenario modelling application includes pre-configured performance models specific to P&C insurance business models and calculation logic for quick and easy deployment. The underlying model links business performance and legal entity financial outcomes, delivering both line of business and finance perspectives.
Looking to get ready for the next planning cycle or make better use of the current strategic plan? Please contact us.