Insurance organizations in Bangladesh leverage annual financial planning for many purposes – aligning organizational priorities and strategic investment opportunities, identifying related expenditures, projecting policy counts and identifying economic goals by which leadership and the broader organization will be compensated.
Even during normal times, planning is a complex effort. With the instability of the current world, many insurance companies in Bangladesh are facing additional discomfort in future projections, driving a near-constant need to develop and model scenarios.
In response, CFOs and financial planning and analysis (FP&A) leads should look to take immediate action that can help mitigate uncertainty during the current cycle while enhancing processes over time to develop a more dynamic, effective planning organization.