AP NEWS

A.M. BestTV: Emerging Demands Reshaping Insurance Chief Financial Officer’s Role, Says IASA Panel

June 11, 2018

OLDWICK, N.J.--(BUSINESS WIRE)--Jun 11, 2018--In this A.M. BestTV episode from the Insurance Accounting & Systems Association Conference (IASA) in Nashville, TN, a panel of finance experts said insurance chief financial officers’ (CFO) responsibilities are expanding into areas formerly considered outside their scope. Click on http://www.ambest.com/v.asp?v=iasa3618 to view the entire program.

“I think today there are so many more non-financial demands on CFOs than ever before,” said Marcia Jerding, audit partner, Johnson Lambert. “These demands come from a variety of reasons, since there is increasing stress in the insurance industry. Some of these constant stresses are the speed of technological change, the changing demands of customers and their expectations or the ever-changing landscape and regulatory compliance. CFOs are really challenged now to have a very different skill set.”

Tom Wheeland, partner, BKD, said he believes one of the biggest challenges CFOs face today is responding appropriately to tax reform.

“All of that data will be an advantage to the company that can better understand, process and convert that data to either better products or use it for quicker response time for policyholders,” said Wheeland. “Some of the changes in investment taxation really are causing CFOs and investment officers to look at their portfolio mix and try to determine how to use those tax reform changes to make modifications to their portfolios so as to enhance yield.”

For full video coverage of the IASA Conference, including exclusive executive interviews, visit http://www.ambest.tv/iasa18.

Recent episodes of A.M. BestTV include:

Solvency II Adds Burdens and Limitations, Say Mutual Insurers at AMICE: At the Association of Mutual Insurers and Insurance Cooperatives in Europe Congress 2018, insurers said Solvency II regulations have required them to add resources and personnel, while limiting their ability to diversify: http://www.ambest.com/v.asp?v=amice618. Insurers Boost Holdings in Collateralized Loan Obligations, Say A.M. Best Analysts: Ken Johnson, senior director, and Jason Hopper, associate director, A.M. Best, examine insurers’ growing interest in collateralized loan obligations (CLO), including the role CLOs play in diversifying risk and responding to interest rate fluctuations: http://www.ambest.com/v.asp?v=clo518. Lloyd’s Set to Showcase, Fast-Track New Technology, Says Lloyd’s Chief Commercial Officer: Vincent Vandendael, chief commercial officer, Lloyd’s, said that his company is fast-tracking its new technology and helping to grow the new sharing economy: http://www.ambest.com/v.asp?v=vandendael618. Known for Their Endurance, European Mutuals Aim to Promote Sustainability: Sarah Goddard, secretary general, Association of Mutual Insurers and Insurance Cooperatives in Europe, previews key issues as members prepare to gather for the organization’s bi-annual conference: http://www.ambest.com/v.asp?v=amicewalkup618.

A.M. BestTV covers exclusive A.M. Best information and reports, targeted topics and key developments in the (re)insurance industry every Monday, Wednesday and Friday. Sign up for alerts of episodes at http://www.ambest.com/multimedia/ambtvsignup.html. View A.M. BestTV episodes at http://www.ambest.tv.

A.M. Best is the world’s oldest and most authoritative insurance rating and information source. For more information, visit www.ambest.com.

Copyright © 2018 by A.M. Best Company, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

View source version on businesswire.com:https://www.businesswire.com/news/home/20180611006075/en/

CONTACT: A.M. Best

Lee McDonald, +1-908-439-2200, ext. 5561

Group Vice President, Publication and News Services

lee.mcdonald@ambest.com

KEYWORD: UNITED STATES EUROPE NORTH AMERICA NEW JERSEY

INDUSTRY KEYWORD: PROFESSIONAL SERVICES FINANCE INSURANCE

SOURCE: A.M. Best

Copyright Business Wire 2018.

PUB: 06/11/2018 03:14 PM/DISC: 06/11/2018 03:14 PM

http://www.businesswire.com/news/home/20180611006075/en

AP RADIO
Update hourly