Life insurers have been faced with new challenges, and an amplification of prior challenges, as result of COVID-19. For years the industry has been grappling with low interest rates, slowing client demands, and high competition for wallet share. Life insurers have never been as digitally focused as other segments of the insurance industry, but COVID-19 has further highlighted this gap. Coupled with the potential for sustained economic disruption and barriers to access the medical professionals needed (at least in the near-term), the industry will want to respond in ways that will set a foundation for future success in a post COVID-19 scenario. To help insurers respond to this crisis, we outline areas that life insurers may want to focus on while navigating different stages of the pandemic.

This publication was released by our Global firm

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