Insurers are operating in a more volatile and complex environment than ever before, but most still rely on planning processes that aren’t built for regulatory changes, climate-driven catastrophe risk and intensifying digital competition. 

Yet, traditional financial planning and analysis (FP&A) models remain anchored in annual budgets, siloed spreadsheets and manual reconciliation, with finance and actuarial teams spending significant time assembling data and explaining variances instead of providing insights that drive decision-making.

Connected Planning, an integrated and digitally enabled operating model, addresses this gap by aligning finance, actuarial, business and enterprise planning through shared data, models and assumptions. This allows the leadership to review outcomes dynamically and see how changes in pricing, claims, expenses or capital affect profitability and solvency in near real time.

This report explores:

• What’s breaking traditional FP&A
• Where Connected Planning starts and how to enable it
• How Connected Planning works in practice across life insurance, general insurance, scenario testing and IFRS 17
• Why the right operating model integrates capability, technology, data and collaboration and drives better business outcomes
• Measure Connected Planning success

Adopting Connected Planning does not require a multi-year transformation. It begins by assessing your current processes and pain points, then by defining a practical vision focused on better business outcomes. 

Alvarez & Marsal helps insurers achieve a smooth, practical transition to Connected Planning. Our approach focuses on designing the operating model and activating the technology that sits around Connected Planning, integrating finance, actuarial, business and enterprise planning through driver-based models.

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