29th March 2020

Forrester Research report highlights potential COVID-!9 impact and opportunities for the insurance market

Forrester has published a new COVID-19 related report that details the impact this crisis will have on the insurance industry and the opportunities it will create for insurance firms.
The flood of COVID-19 claims is undoubtedly putting strain on the resources and reputations of insurance carriers and agent-brokers. Indeed, UK insurer Aviva has already received £500,000 in travel insurance claims related to coronavirus from 500 customers.
As the insurance industry faces unprecedented pressure, Forrester covers the near- and long-term impact of COVID-19, as well as:
-The vast gap observed between leaders and laggards in the insurance industry when it comes to COVID-19 response and the growing need for customer advocacy
-The steps insurance firms are taking to prepare themselves for the ultimate test COVID-19 is bringing(i.e. making resources available, managing tough negotiations over small print, limiting future exposure)
-Why firms should be providing proactive reassurance to succeed in the long-run
-The need to promote and invest in digital insurance services(chatbots, for example), despite a weakened economy
-What insurers should be doing to help the un- and under-insured.

Forrester Trends(4 articles)