It is over three months since the World Health Organisation declared the COVID-19 a pandemic, and this global event continues to evolve. Businesses and their staff are reimagining not only their ways of working but also the products and services they provide, as well as how these are delivered to consumers. Attention has turned firmly to the future.
The Insurance industry, like most sectors, is being forced to reimagine the way they do business. Here we share our insights on the changes facing the industry, drawing on conversations held with senior management from 14 Irish (re)insurance companies as well as several captive (re)insurers during our recent industry mood snapshot. We consider the challenges posed by the public health emergency and the next “new normal”, and the expected changes to the insurance industry.
Covid-19 Managing different risks in a different way?