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Every business has to manage uncertainty and risk, but the insurance industry faces a particularly turbulent future. As threats such as natural disasters and cyber-risks proliferate, insurers need bold strategies to continue doing what they do best: predicting risk and protecting against it.

At the same time, major digital disruption and evolving customer expectations are further upending the industry landscape. In response, insurers must reassess their operating models, revamp their core systems, and uplevel their data strategy to protect their own enterprise while driving innovation and growth.

As insurance company CFOs increasingly step into a broader, more strategic role, finance—at the intersection of strategy, operations, and financial data—is uniquely positioned to help the organization take advantage of data at scale and reap its many benefits. CFOs must strategize for long-term financial stability by accurately modeling risks while also investing in digital transformation to meet customer demands. Moreover, they must drive efficiencies through technology, develop products for emerging risks, and manage financial strategies to sustain growth in a competitive environment.

Read on to learn the six best practices finance leaders in the insurance industry can leverage to lead the charge and move their organization toward becoming truly data-driven.