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Tax operating models are under increased pressure, as the financial services sector — including insurance — navigates rapid regulatory change, demographic workforce challenges, and increasing operational demands. In this episode, Matt Lodes and Vince Scarpati explore how these macro forces are reshaping the tax function and the strategic decisions organizations must make to sustain performance amid shrinking talent pools and rising complexity.
Key takeaways
- Supply and demand imbalance is driving change. A shrinking pipeline of traditional tax talent and accelerating regulatory activity make today’s operating model challenges increasingly urgent.
- Insurance sector complexity compounds operational strain. Regulatory scrutiny, legal-entity considerations, and the convergence of private capital heighten the need for scalable and adaptable tax processes.
- Tax operating models exist along a spectrum. In-house, co-sourced, outsourced, and managed service structures provide varying degrees of ownership, flexibility, and scalability.
- Future-state decisions rely on honest current-state assessment. Organizations must evaluate maturity, capability gaps, and alignment with broader business strategy and risk posture.
- Technology is a major disruptor. AI-driven processing, improved data accessibility, and ERP migrations create opportunities to modernize how tax work is executed.
- New resource models are emerging. Offshore and nearshore talent, as well as non-traditional skills, like data science and engineering, are reshaping how tax functions operate.
- Catalysts for change are accelerating. Succession planning, technology investments, M&A activity, and cost-containment initiatives frequently trigger reevaluation of tax operating models.
- Sustainability and adaptability are the end goals. Organizations must determine whether their future operating model can withstand continued change while meeting evolving stakeholder expectations.
Segmented topics with timestamps:
- 0:00 – Opening & topic overview
- 1:00 – Market pressures creating a supply–demand imbalance
- 1:55 – Insurance sector complexity in focus
- 2:54 – Overview of tax operating model types
- 4:00 – How companies are responding
- 4:40 – Technology as a major disruptor
- 5:25 – Expanding resource models
- 6:05 – Catalysts for operating model change
- 6:41 – Final guidance
- 7:04 – Closing
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