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Services of interest
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Arthur D. Little

Arthur D. Little has been at the forefront of innovation since 1886. We are an acknowledged thought leader in linking strategy, innovation and transformation in technology-intensive and converging industries. We enable our clients to build innovation capabilities and transform their organizations. ADL is present in the most important business centers around the world. We are proud to serve most of the Fortune 1000 companies, in addition to other leading firms and public sector organizations. For further information, please visit www.adlittle.com

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SØNR

Sønr is the world’s most comprehensive source of innovation intelligence. It is a subscription platform used by some of the best known insurance companies globally.

It tracks millions of companies around the world and provides insight on the latest market trends, the startups and scaleups reshaping the industry, and intelligence on how other big insurers are innovating.

Sønr includes a suite of tools designed for teams to better collaborate and connect. From recording meetings to capturing and sharing Notes, to being able to track and share activity across the company using Watchlists and CRM boards.

The platform is backed up by a team of consultants, researchers and analysts who support clients in discovering and creating new business opportunities.

PWC: Ready and resilient: Insurance strategy for a COVID-19 world

Executive summary :

With the arrival of the COVID-19 pandemic, insurance companies found themselves in the centre of the storm. In a matter of hours and days (not weeks), many carriers had to take their entire operations remote. At the same time, they were fielding calls about changing coverage, answering questions about business interruption policies, continuing to pay claims for life, health, disability insurance, and more.

 The Digital Insurer reviews PwC’s Report on Ready and resilient: Insurance strategy for a COVID-19 world

Insurers must lear to cope with the new normal post COVID-19

Fit for purpose

Insurance companies are designed for this. Risk analysis and crisis planning are at the core of their business. With policyholders — individuals and businesses — suffering as a result of the crisis, regulators and legislators expect insurance companies to live up to their responsibilities. Those that don’t will face enormous reputational consequences. Getting it wrong is not an option.

Coping with the new normal

So far, insurance companies have weathered the crisis exceptionally well, largely due to investments they’d already made in networks, applications, laptops, and more. The crisis did expose a number of gaps and vulnerabilities, and it reinforced the need for additional technology investments. But overall, industry leaders can feel secure in the knowledge that the battle is being managed and the near-term path forward, while precarious, is one they know how to navigate.

The big question now facing leading carriers is this: How do we adapt our business strategies to accommodate the new normal?

Three key focal points

In our conversations with insurance clients, three topics come up time and again as the industry looks to the future:

  • The need to accelerate digital transformation;
  • How to bolster the balance sheet; and
  • How to get employees back to the office.

See the full report for more…

Link to Full Article:: click here

Link to Source:: click here

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