Industry experts discuss the change in business approaches as insurers decide whether Covid-19 reactions are a ‘one-time thing’ or have ‘fundamentally changed the fabric of the business’
As lockdown measures are gradually relaxed by prime minister Boris Johnson, insurance industry professionals are left weighing up their operational models, separating “one-time” Covid-19 reactionary measures from technology-driven steps that have “fundamentally changed the fabric of the business”.
Speaking at an Insurance Times webinar held on 30 July, titled ‘The legacy of Covid-19 will be the end of legacy – how a global pandemic is accelerating the adoption of cloud platforms’, Jim Sadler, chief operating officer at SSP, which sponsored the online event, explained how the threat of a potential second lockdown raises questions around insurers’ resilience, both operationally and in responding to clients.
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