4 Stages To Recovery And ‘Future Of Work’

The insurance industry is experiencing seismic shifts in day-to-day operations stemming from this invisible yet intensely disruptive contagion COVID-19, but early signs of longer-term trends are also starting to emerge.

A few short weeks ago, who would have thought that human health/safety and operational resilience would become the top two drivers of digital transformation?

This pandemic has redirected our focus right at the base of Maslow’s hierarchy of needs overnight.

Organizations are overhauling operations to ensure the safety of employees and customers while business continuity and contingency plans are being put in place to ensure acceptable service for customers in this new normal.

Insurers are focusing on retaining cash reserves while balancing customer retention with rebates, due to sheer uncertainty of the recovery timeline. Eventually, the obstacles presented by COVID-19 are giving way to new growth opportunities.