International P&C Insurer: Warranty Business Unit Controllership

The Warranty Controllers Team and the CFO of one of the world’s largest Property and Casualty (P&C) insurance companies faced significant challenges due to high employee turnover and management transitions. In 2023, 60% of the Warranty Controllers Team was new, exacerbating the issue of inadequate knowledge transfer and poor documentation of procedures. These changes led to substantial communication and information-sharing gaps between the CFO and Warranty Controllers teams. Additionally, several consolidated processes were not incorporated into the Warranty business process, leading to disjointed reporting and a lack of engagement between the Insurance and Agency segments. Resourcing constraints and constant turnover in the Billing & Invoice teams further hindered process continuity and effective knowledge transfer.

To streamline financial close reporting and improve communication with the CFO team, RGP was engaged to reassess and enhance key finance processes for the Global Warranty Finance Controllership Team. The initiative delivered a comprehensive documentation of business and financial workflows across all warranty programs, clarifying how supporting data sources integrate with SAP and legacy systems. Additionally, the project identified and addressed material gaps and weaknesses from an Internal Audit and SOX controls perspective, strengthening compliance and ensuring accurate financial consolidation into P&L and Balance Sheet line items.

RGP enabled the Global Warranty Finance Controllership Team to improve communication, ensure accurate financial reporting, and strengthen knowledge transfer.