- FCA confirms guidance for insurance firms on assessing product value
- FCA provides update on progress on its court action on business interruption (BI) insurance policies
- FCA BI announcement-comments from the market
- AXA to reduce dividend proposal at AGM-provides latest COVID-19 impact estimate
- RenaissanceRe announce major public offering
- Insurance Europe warns EU Council against rushing to conclude trilogue discussions on the European Commission’s collective redress proposal
- Cigna Europe research indicates working from home during lockdown has increased overall job satisfaction, improved work relationships and is reducing work-related stress among UK workers expired
- Pandemic Re Steering Committee announces formation of a Project Committee and six working groups expired
- American Family chooses Sapiens Decision for Insurance solution expired
- AXA UK broadening use of live video to settle commercial property claims with Verisk solution expired
- Majesco announces strong financial results for the fiscal 2020 fourth quarter and full year expired
- RMS previews the 2020 Atlantic Hurricane season which started this week expired
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)