With the effectiveness of the epidemic prevention and control, and as our government begin tentatively easing restrictions, insurers’ strategic focus is turning to what the competitive landscape will look like in the aftermath, what the new reality means for their business and how to come out in front.
The first is operational: how to prepare your organisation for the return to work in this ‘new normal.’ Although this will be a new and difficult challenge, it should be resolvable in the near term. The other, and in many ways trickier, is to determine what the mid- to long-term implications of the crisis are and how should you respond strategically. Several related questions are emerging within boardroom discussions and strategic planning sessions.
For insurance leaders, focusing on five key priorities will help your organisations to be stronger and more resilient in the post-crisis world.