Since the beginning of the pandemic, insurers have embraced remote work, with many reaping productivity and efficiency gains. However, chief human resources officers (CHROs) have been more skeptical than their C-suite peers about whether organizations were really prepared to support a remote workforce. And many organizations still lack the technology and infrastructure to sustain a…
COVID-19 is prompting insurers to focus on both the financial and operational resilience of their companies as they try to manage the economic challenges created by the virus. It’s no surprise that insurance prices are rising as the industry assesses the magnitude of the risk and losses connected to the pandemic. U.S. commercial insurance prices rose by almost 10 percent overall compared to the…
Highlights Open insurance offers insurers an opportunity to substantially enhance their products and services while also opening many new revenue streams. Carriers can capitalize on the huge flows of real-time data that open insurance unleashes to launch a host of new customer offerings. The “network effect” that occurs in open insurance provides insurers that are…
Although the COVID-19 pandemic has affected insurance globally, we are bullish about the prospects for APAC’s insurance market: recovery in many APAC markets is ahead of the world, while demographic changes and relatively low insurance penetration rates give further cause for optimism about the potential for growth. That said, insurers in APAC – the world’s…
