A fully integrated financial analytics platform for planning, forecasting, analysis, and reporting in the insurance industry.

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The business challengeInsurance companies are facing an increasingly wide range of market opportunities and challenges, driven by global economic conditions and the acceleration of technology-driven change. In response, Financial Planning and Analysis (FP&A) teams can provide a crucially important role in enabling competitive advantage for their companies through:

Improving the quality and speed of planning and decision-making across the businessDriving consistency in business planning across functions, lines of business and legal entitiesModelling ad hoc scenariosProviding rapid communication of key insights to the right people

But creating a group-wide financial view of actuals, forecasts and plans is complex and, combined with the rapidly increasing regulatory reporting demands facing the sector, places huge pressure on the finance team. As a result, today’s Insurance FP&A teams may spend up to 80% of their time on:

Manual data consolidation and review processes Creating schedule-based reporting packs that don’t communicate the key messages Building scenario models in Excel that are often hard to maintain and prone to errorTime-consuming administrative coordination of the planning process and feedback cycle with the wider finance team

The solution: MPX InsurMPX Insur has been designed and built in partnership with a leading Property and Casualty insurance underwriter, with a focus on empowering the FP&A team to provide competitive advantage. Built on Metapraxis Empower, the leading financial analytics platform, MPX Insur provides the flexibility, automation and insight to support every stage of the end-to-end forecasting, planning and reporting process.

MPX Insur - key differentiatorsDesigned specifically for Property and Casualty insurance with a pre-configured business driver model, planning interface and analysis suite

Fully integrated financial analytics platform supports group-wide finance user needs across planning, forecasting, analysis and reporting

Highly intuitive user interface with guided visual analysis improves understanding of plans and decisions, driving engagement across the business

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Built-in business intelligencePreconfigured P&C insurance-specific business model with calculation logic linking drivers to financial results Analysis and planning supported across the matrix of lines of business and legal entities to achieve internal and regulatory requirements An intuitive planning interface, with connectors to populate the model automatically with pre-existing data

The benefitsMPX Insur enables the FP&A team to turn the 80:20 rule on its head, focusing the majority of their time on generating insight and partnering with the business to drive better performance by:

Enabling group-wide focus on key performance drivers and consistency of communicationProviding deeper insight into the challenges and opportunities ahead Freeing up FP&A team time through greater automation of routine processes

Use cases

Forecasting and planningTop-down and bottom-up, multi-user, driver-based planning accessible at any level of the hierarchy Instant drill-down and comparison across budget, actuals, prior and current forecasts, with visual analysis and reports Highly configurable security, commentary capture and plan sign-off process

Scenario modellingInstant impact analysis to model acquisitions, divestments, organisational changes and business base case performance in an easily adaptable business hierarchy Real-time calculation and visualisation of scenarios Sharing of modelled scenarios with colleagues

Communication and Insight Rich visualisation of trends and forecasts providing guided analysis and insights Visual impact analyses of changes in key measures for lines of business and legal entities Consistent approach to communicating scenarios and forecasts across the business

Executive teamConduct guided analysis at a relevant level of the business, aligned to the business driver modelHighlight immediately those areas that require critical executive attentionAchieve consensus on committed business plans based on a consistent understanding across the team

Head of FP&A Develop scenarios to support M&A initiatives and ‘what-if ’ analysesAnalyse and challenge plans before their approval Monitor the impact of strategic plans and decisions on day-to-day operational plansAnalyse the impact of line of business plans on legal entity financial statements

FP&A team and lines of business headsCreate consistent plans across multi-year and monthly time horizonsModel defined areas of business performance with a consistent set of value drivers, supporting alignment across the businessModel ad hoc scenarios to support strategic decisions and track the outcomesFacilitate the alignment of strategic plans to financial and operational forecasts

Technology overview Compatible with all major planning software and ERPs: MPX Insur is a strategic corporate performance management (SCPM) product which can integrate data from enterprise planning software including TM1, Cognos, Oracle Hyperion and SAS along with all major ERPs.

Differentiated within CPM market: MPX Insur is differentiated from other CPM offerings for the insurance sector by its preconfigured insurance-specific business model which provides significant cost and speed-of-delivery efficiencies.

Performant and guided analysis: MPX Insur can compute complex group-wide scenarios in seconds rather than the minutes-to-hours taken by traditional technology solutions; analyses are guided so that scenario impacts are presented in line with management’s model of the business.

About MetapraxisMetapraxis is a leader in developing financial analytics and business performance software that helps finance professionals plan, analyse and visualise management information to guide business decisions. Launched in 1984, Metapraxis has provided solutions for over 200 blue chip companies across 30 industries in 5 continents to deliver better business performance.

Metapraxis Limited

T: +44(0)20 8541 2700E: info@metapraxis.comW: www.metapraxis.com

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