Peter Witham is director and financial services lead for UNIT4 Business Software.

Change is relentless in the insurance industry. Evolving regulations, business management changes such as M&As, and diversification into new product lines or markets are just some of the many changes that bombard insurance company executives on an ongoing basis.

To run effectively, insurers need to know the state of their finances at any point in time and how they can best address business issues that arise. They rely on vital information on key areas of the business that is stored within the finance management system to provide insight into profitability and other key measures, and help them identify areas of concern and potential opportunities. Particularly when things are moving so quickly, it's important for executives to have an accurate view across the organization and access to finance data in real time. 

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