The insurance industry isn’t keen to adopting technology, but inevitable change will prompt a digital transformation. Read this article to learn about the main challenges impacting the landscape.

Four core digital challenges facing the insurance industry

Phil is a principal in Baker Tilly’s insurance advisory practice and has more than 10 years of experience providing valuable insights and service to clients. He is the leader of Baker Tilly’s regulatory information technology practice and is a nationally recognized contributor to the insurance regulatory community. Phil is actively involved in delivering many IT Exhibit C and cybersecurity assessments, and is engaged by SOFE and various state insurance departments to provide training on emerging risks and trends in technology.

Phil is a principal in Baker Tilly’s insurance advisory practice and has more than 10 years of experience providing valuable insights and service to clients.

Bachelor of Science in accounting and economics

Leads regulatory risk-focused examinations for various state insurance organizations, including reviewing and assessing risk operations, strategy and cybersecurity

Acts as Examiner-in-Charge for large complex risk-focused examinations as well as efficiently leads exams of small insurers

Conducts regulatory risk-focused examinations for various insurance organizations, including reviewing and assessing risk to operations and strategy 

Uses leading practices in risk-based consulting and auditing standards to maintain an effective and efficient approach to enterprise risk management

Works with small and large entities (from pre-revenue start-up organizations to over $500 billion in assets) spanning the public and private sector, as well as publicly traded companies

Performs consulting services for government agencies with a specific focus on enterprise risk management, data reporting, process and operational efficiency

Prior to joining Baker Tilly, Phil held positions as an internal auditor with a large multi-national property and casualty insurer and with a leading regional management consulting firm focusing on risk management, operational efficiency and improvement, strategy alignment and implementation, and digital transformation

Insurance Accounting and Systems Association (IASA)

Information Systems Audit and Control Association (ISACA)

Join Baker Tilly at the 2023 Eastern Association of College and University Business Officers (EACUBO) Annual Spring Workshop in Boston. Our higher education specialists are presenting the following sessions: Charting a course to institutional sustainability: the Business Officer’s role in the PASSHE strategic integration journey Date and time TBD The evolving higher education landscape has propelled institutional leaders to revisit their business models and make bold, transformative changes. Many institutions, including the Pennsylvania State System of Higher Education (PASSHE), are turning to strategic integrations in their quest for fiscal sustainability while balancing mission critical objectives and their commitment to being student-centered.  This panel will explore a tactical approach to institutional integrations from a business officer’s perspective and the specific role they played to advance PASSHE’s goals. The session will highlight key tactics used to implement a thoughtfully aligned, growth-oriented, student-centered institutional integration from the beginning stages of structural planning to the assessment of transformational outcomes. Presenters:  Dave Capitano, CPA, Partner and Higher Education Practice Leader, Baker Tilly  Phil Schmoyer, CFE, CISA, AES, CSM, Principal, Baker Tilly Digital  Molly Mercer, Chief Financial Officer, PASSHE  Dr. Susan Fenske, Vice President for Institutional Effectiveness and Student Affairs, Pennsylvania Western (PennWest) University  Fawn Petrosky, CPA, Vice President for Finance, PennWest University  It is March Madness time! What CFOs should know about name, image and likeness (NIL) Date and time TBD In July 2021, all NCAA student athletes became eligible to earn compensation for the use of their name, image and likeness (NIL). What are the “dos” and “do nots” that a CFO should know in a program regardless of if you are a Division I, II or III institution? Learn the basics of NIL, best practices to ensure compliance with gifts, compensation and contracts and how to support student-athletes and athletic departments in this timely session highlighting why NIL is important to CFOs.  Presenters: Dave Capitano, CPA, Partner and Higher Education Practice Leader, Baker Tilly Bill Guerrero, VP Finance/CFO, University of Bridgeport Jason Butikofer, Deputy Director of Athletics and Chief Operating Officer, University of Connecticut We look forward to connecting with you in Boston!

Phil Schmoyer

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Philadelphia, PA

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Four core digital challenges facing the insurance industry

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EACUBO 2023 Spring Workshop