The Covid-19 crisis continues to endanger public health, disrupting people’s lives and the everyday running of businesses and their supply chains. It is subsequently affecting the most basic levels in Maslow’s hierarchy of needs —physiological needs and safety.
To support recovery and drive opportunity, insurers must work at pace to meet new customer needs, strengthen distribution channels and enhance future products.
While insurers are understandably responding to immediate practical and logistical challenges relating to their customers, intermediaries and employees, the most material risk is for firms to fail to address the wider existential challenges of the Covid-19 crisis that will remain long after it.
The hypothesis: the strongest, most robust insurers to emerge from the crisis will be those who have recognised, planned and acted on these new realities.
Navigating the next phase of the pandemic will require insurers to think ahead, take clear strategic actions, and position themselves for the world beyond the pandemic.
Download our latest paper below, which considers the following questions in relation to the decisions insurers must now make regarding their customers, intermediaries and the products they offer:
You can also review our latest insights and thinking to support you in leading through these volatile times; don’t hesitate to reach out if you have any questions.