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Insurance industry outlook report 2021 From Deloitte Consulting

The following is the Insurance industry outlook report 2021 From Deloitte Consulting recommended by And this article belongs to the classification: Deloitte Consulting , research report.

Deloitte’s latest report “insurance industry outlook 2021: accelerating business recovery towards comprehensive rebound” is based on Deloitte’s global research, which deeply explores the measures taken by industry leaders during the epidemic period to consolidate the foundation of the enterprise, as well as the strategies being carried out to promote the enterprise to win in the future. The report also comprehensively analyzes how insurance companies should adjust and effectively plan to increase investment in operation, technology, talent and finance, so as to grow further.

The main points are as follows

The outbreak of COVID-19 has greatly overturned the way of business operation of insurance companies, forcing insurance companies to turn to telecommuting overnight and interact with customers through the network. At the same time, it also exposes their deficiencies in digital capabilities and raises concerns about network security.

Deloitte’s outlook research on global insurance industry executives found that insurance companies pay more attention to cost management than before the epidemic. However, compared with overall cost reduction, most insurance companies may focus more on partially delaying or reducing investment plans before the epidemic, so as to release funds for higher priority projects and talent strategies, so as to promote enterprises to adjust and adapt to the impact of the epidemic more quickly.

The need to accelerate the process of digitalization and enhance the ability of virtualization operation has prompted many insurance companies to turn the crisis into a turning point, accelerate various transformation measures, and strive to complete the planned objectives that originally took three to five years in the next year.

During the epidemic period, the necessary needs may be the fundamental driving force for many insurance companies to reshape themselves. The speed of change and greater dependence on network connection and remote access may bring many new risks to the insurer and its policyholders, especially the risks of network security and business interruption.

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