Finance function is another important function for any insurance company. It is responsible for all financial operations. Some of the roles which the finance function needs to oversee are:

• Maintaining financial health of the company
• Planning
• Budgeting
• Reducing expenses and operational costs
• Managing working capital and requisite cash
• Managing financial risk
• Financial reporting
• Managing compliance and rgulatory requirements

Analytics plays a critical role for finance department. Good analytical tool can help them to reduce expenses and improve efficiency. Financial and statutory  reporting is another area where analytics plays a key role.