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Shannon Varney

Senior PartnerBoston

Advises financial services leaders on harnessing AI to transform performance, accelerate growth, and create lasting competitive advantage

Shannon is a senior partner in McKinsey’s Boston office and a leader in the firm’s Financial Services Practice across insurance and wealth & asset management. He leads McKinsey’s commercial insurance work and advises CEOs, boards, and executive teams on how to harness AI to transform their businesses, accelerate growth, and build competitive advantage.

Shannon works with leading life insurers, wealth managers, property-and-casualty insurers, brokers, managing general agents (MGAs), and investors around the world on enterprise AI transformations and large-scale business modernization. He helps organizations rethink how work gets done—from underwriting, claims, and distribution to customer service, operations, and corporate functions—using AI to unlock new levels of productivity, improve decision-making, elevate customer and employee experiences, and create new sources of value.

Over more than a decade at McKinsey, Shannon has advised public companies, mutual insurers, and private equity-backed businesses on many of their most consequential strategic priorities. His work spans enterprise AI transformation, growth strategy, commercial excellence, operating model redesign, digital and technology modernization, and performance transformation. He is particularly passionate about helping leadership teams move beyond AI pilots to fundamentally rewire how their organizations operate, compete, and serve customers.

A recognized thought leader on the future of insurance, wealth management, and AI, Shannon frequently publishes and speaks on topics including agentic AI, underwriting, claims transformation, distribution, commercial excellence, and the evolving financial services landscape. His work focuses on translating emerging technologies into measurable business outcomes at enterprise scale.

Before joining McKinsey, Shannon worked in Goldman Sachs’ investment management division. He earned an MBA from The Wharton School of the University of Pennsylvania and a BS in finance from Boston University.

Shannon lives outside Boston with his wife and their four children. Outside of his client work, he is passionate about youth soccer, coaching local U12 teams and advising the Weston Soccer Club. He serves on the Board of Overseers of the Boston Children’s Museum.

Published Work

Global Insurance Report 2025: The pursuit of growth,” McKinsey & Company, November 2024

Alternative capital in property and casualty: A way forward,” McKinsey & Company, May 2023

What’s ahead for commercial property and casualty insurance,” McKinsey & Company, April 2023

Global Insurance Report 2023: Expanding commercial P&C’s market relevance,” McKinsey & Company, February 2023

How to harness the power of teams in life insurance,” McKinsey & Company, June 2022

The growth chessboard: How leaders fuel profitable growth in insurance,” McKinsey & Company, December 2020

How insurance can prepare for the next distribution model,” McKinsey & Company, June 2020

The insurance agency of the future: Building a digital service model,” McKinsey & Company, November 2018

Digital strategy: The four fights you have to win,” McKinsey & Company, October 2018

Burning questions from InsureTech Connect 2018: 48 hours at the world’s largest insurtech gathering,” McKinsey & Company, October 2018

How insurers can get the most out of a digital transformation in 2018,” McKinsey & Company, February 2018

Past Experience

Goldman Sachs
Analyst

Education

The Wharton School of the University of Pennsylvania
MBA

Boston University
BS, finance