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PwC and Workday: Guiding insurance modernization through a complex and changing environment
Forging a path to a digital future for insurance systems
From data fragmentation to regulatory demands, the scattered technological landscape insurance companies face can result in unnecessary manual processes for their employees and make it challenging to leverage data from a central location.
PwC and Workday help insurers enhance their agility, control costs and manage risks while streamlining operations and financial functions.
Insurance operations transformation: key areas of focus
Reduce reliance on legacy technology and manual processes and prevent silos in an effort to help centralize data.
Standardize tools that can provide universal insight into operations and open the door for real-time decision-making.
Support continued meeting of regulatory and reporting requirements, even during a technology migration, while providing the flexibility needed to support future regulatory changes.
How PwC can help insurers
As a global Workday Strategic Partner for Insurance, PwC understands the regulatory and financial complexities insurers face. Our solution includes connections to leading cloud-based insurance systems, a wide variety of complex accounting rules, use cases and intelligent dashboards that can help you make sense of your financial environment.
PwC’s insurance model system
Our solution can integrate prebuilt connections to major insurance administration systems. It includes templates for GAAP and statutory reporting needs and a multi-line insurance data model. Our persona-based dashboards can help staff get quicker access to the reports they need.
A robust cost analytics platform
Strategic Cost Intelligence, a PwC product, is specifically designed for the insurance industry, supporting advanced cost allocations that allow for rapid, transparent cost modeling, which can help you make better-informed financial decisions.
Built with PwC’s deep insurance knowledge
PwC has more than 1,400 professionals dedicated to serving insurance industry clients, with countless years of experience in the field. We work closely with you to help accelerate your Workday implementation and reduce risk.
Designed to decrease disruption
PwC knows many insurers can't afford downtime, so our solutions are designed to enhance your ability to stay up and running throughout the Workday implementation process. Our four-phase adoption journey includes training and supporting your staff to help increase productivity.
Our Workday solutions are designed to help solve complex challenges facing the insurance industry today. Designed to help simplify operations and improve efficiency, our proven track record is the reason why 70% of Fortune 1000 insurers and hundreds of smaller and specialty carriers choose to work with us.
Make smarter financial decisions
Workday’s sophisticated Financial Management platform can help insurers by centralizing data and making it more directly available than before, which means you can spend less time searching for information and more time thinking strategically and executing on new business opportunities.
Tools like our Strategic Cost Intelligence platform can help clients pinpoint the cost drivers that have a greater impact on their business, so you can make better and faster financial decisions that improve profitability.
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