What is an Executive Dashboard?

Executive Dashboard are considered corporate monitoring tools and are used by senior leaders to get a clear picture of key performance metrics. Some of the main functionality in this type of dashboard is that it provides KPI monitoring across five different perspectives: 1) KPIs for Total annual premiums and Claim payouts, 2) Claim payouts by product line, 3) Revenues from the top five producers, 4) Revenues from the top five product lines, and 5) Claim amounts ranked by producer. You find an example of this type of dashboard below.

Purpose of Executive Dashboards for Insurance Companies

Insurance companies use Executive Dashboards to make it easy for executives to monitor essential metrics such as those related to premiums and claims. When used as part of good business practices in Executive and Financial Planning & Analysis (FP&A) departments, an organization can improve its strategic decisions and related results, and it can reduce the chances that leaders miss important opportunities or performance issues.

Example of an Executive Dashboard

Here is an example of an Executive Dashboard with analysis of producers, top products and claims.

Example of an Executive Dashboard for Insurance Companies

Example of an Executive Dashboard for Insurance Companies

You can find hundreds of additional examples here

Who Uses This Type of Dashboard?

The typical users of this type of dashboard are: Executives, Boards.

Other Reports Often Used in Conjunction with Executive Dashboards

Progressive Executive and Financial Planning & Analysis (FP&A) departments sometimes use several different Executive Dashboards, along with profit & loss reports, balance sheets, cash flow statements, revenue dashboards, KPI dashboards, annual budgets, forecasts and other management and control tools.

Where Does the Data for Analysis Originate From?

The Actual (historical transactions) data typically comes from enterprise resource planning (ERP) systems like: Microsoft Dynamics 365 (D365) Finance, Microsoft Dynamics 365 Business Central (D365 BC), Microsoft Dynamics AX, Microsoft Dynamics NAV, Microsoft Dynamics GP, Microsoft Dynamics SL, Sage Intacct, Sage 100, Sage 300, Sage 500, Sage X3, SAP Business One, SAP ByDesign, Acumatica, Netsuite and others.

In analyses where budgets or forecasts are used, the planning data most often originates from in-house Excel spreadsheet models or from professional corporate performance management (CPM/EPM) solutions.

What Tools are Typically used for Reporting, Planning and Dashboards?

Examples of business software used with the data and ERPs mentioned above are:

  • Native ERP report writers and query tools
  • Spreadsheets (for example Microsoft Excel)
  • Corporate Performance Management (CPM) tools (for example Solver)
  • Dashboards (for example Microsoft Power BI and Tableau)

Corporate Performance Management (CPM) Cloud Solutions and More Examples