“Change” is the watchword for the insurance sector. Increasing customer churn and pressure on premiums are eroding profitability, highlighting the need for significant cost reductions in the areas of customer acquisition and service. This threatens the traditional operating model as organizations re-evaluate current routes to market and redesign internal processes in the never-ending search for greater efficiency.Faced with the need for change, many insurers recognize that they are ill equipped to provide executives with the management information required to restore and maintain the desired level of profitability. For insurers there are three core financial management processes:Cost and Profitability AnalyticsMany insurers are not able to report on product, customer and channel profitability with the frequency they desire, even though this information is critical for decision-making at both strategic and operational levelsLong-Range Financial PlanningIn today