Even before COVID-19 appeared, 2020 was shaping up to be pivotal for the insurance industry. The industry faced low rates, rising mortality, sluggish economies and increased losses in multiple business lines.
We can see the societal effects and economic implications of COVID-19 playing out for years to come. Digital transformation was important before the virus hit, but the pandemic has accelerated the need for digital solutions, both within the customer’s buying journey and for the insurer to deliver value through new distribution mechanisms and product innovation. 2021 promises the same.
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