As we approach the end of another turbulent year, many insurers are acknowledging the significance of fortifying themselves against external and industry related challenges. John White, Head of Sales and Client Services, reveals three essential steps for cultivating resilience in today’s dynamic industry terrain.
The pandemic saw companies accelerate their uptake of insurtech to solve old and emerging problems, and this acceleration has coincided with an increased acceptance and expectation of these changes from customers.
Some workplaces have emerged victorious from 2020 having achieved greater talent retention, employee offerings, and a flexible approach to effectiveness.
The impact of social media, news coverage, political change and economic factors on claims and litigation has helped coin the term ‘Social Inflation’.
Managing the customer experience is critical for insurance carriers to prevent defection. Learn how to do it right, here.
The opposite phases of the El Niño-Southern Oscillation (ENSO) cycle have shaped businesses and communities across the globe. From droughts to severe flooding, and the ongoing economic and societal impacts from these events, carriers need to have an understanding of just how to forecast their response to a declared ENSO event.
We all had to rapidly adjust to a virtual world in 2020, and the importance of being able to harness technology and data to optimise the customer experience is unlikely to lessen this year.
As a global carrier’s legacy source systems were set to be discontinued, find out how Gallagher Bassett stepped in to take over management of its portfolios for Workers’ Compensation and primary Property & Casualty lines.
Businesses have outsourced goods and services for decades, but when carriers seek to outsource claims management services, Gallagher Bassett’s Mike Hessling says the evaluation is far more than a traditional procurement exercise.
From the Townsville floods in 2019 and Brisbane’s similar devastation in 2011 to North Queensland’s Tropical Cyclone Yasi in 2011, Gallagher Bassett has been on the frontline helping organisations manage claims with every catastrophic event in the Southern Hemisphere.
It goes without saying that 2020 has been – dare we say it – an ‘unprecedented’ time. As employees around the world adapted to ‘WFH Status’ almost overnight, technology was evolving faster than people could dream about it. New insurance products are launching to market and those customers have particularly high standards – they want very specific coverage and they want it now.
2020 has shown us how quickly circumstances can change and the importance of fluid business models that are both able and willing to adapt to these new operational contexts. Paying attention to emerging global trends, consumer insight and findings from our work across some of the largest insurance carriers around the world, we’ve collated the 6 trends (re)defining the new reality for insurers.
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