Insurtech May Offer Insurers a Route Out of the Pandemic

By Reinsurance News

A recent study has suggested that COVID-19 will act as a catalyst for the industry-wide adoption of new digital initiatives in the insurance industry and that the pandemic has uncovered the value to firms of having a Chief Risk Officer to navigate strategy and identify opportunities.

The rapid acceleration of COVID-19 to a global pandemic has triggered business continuity plans across the world and has brought about a wholescale change in working practices for insurers. With a “new normal” yet to be defined amidst the challenges of evaluating an evolving cornerstone within the insurance industry, speed and efficacy of data has become increasingly important.

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