Publication Date: 10th June 2021
COVID-19 initiated or accelerated major changes in 2020 and 2021 – social, economic, political and technological. As societies begin to emerge from the pandemic, it is important for insurers to understand which trends will stick and how their businesses will be impacted. Our report sheds new light.
The study draws on 25 interviews with experts and industry executives and on a global customer survey of 8,000 insurance customers – both retail and commercial – across eight countries (Brazil, China, France, Germany, Italy, Japan, the U.K., and the U.S.).
We identified four shifts that are likely to have the most significant effects on insurers and their role in the post-pandemic world, in this order: accelerated digitalisation; 'Big Government’; pivot to resilience and sustainability; and more remote working.
From this, the report offers recommendations for an expanded role for insurance in the post-pandemic risk landscape.
Also of interest:
Research series: Insuring a pandemic like COVID-19