The current pandemic has brought challenges as deep as unexpected to the insurance industry. From the outset, the drop in production, resulting from the abrupt reduction in the insurable mass, especially in the P&C business. For Chubb CEO Evan Greenberg, never, in the long history of the insurance industry, an isolated phenomenon had such a profound impact in such a short period of time.
One of the most prominent themes in countless media, studies and reports – digital transformation – represents an extraordinary opportunity for the insurance sector. Specifically, advanced data processing through predictive analysis has translated, for life insurers who are investing in this technology, into tangible and measurable returns.
The COVID-19 pandemic has had a major impact on almost all economic sectors, and the insurance sector is no exception. As the pandemic unfolds, customers are increasingly focused on preserving their health, but as the social and health environments improve, the direct impact on the insurance market is becoming increasingly clear.
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