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How are insurers preparing for a post-COVID world?

Four insights from the 2020 Global Insurance Survey that tell the story

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The 2020 BlackRock Global Insurance Report reflects a June-July 2020 survey of 360 senior insurance executives across the globe. We help map the future of the industry through the eyes of your peers and share the perspectives from leading insurers and BlackRock experts. Key themes include:

  • Embracing digital transformation

  • Reinventing business models

  • Enhancing portfolio flexibility

  • Prioritising sustainability objectives

01. Embracing digital transformation

69% of respondents plan to prioritise technology investment in response to a permanently changed environment. Technological change and a more flexible and tech-enabled workforce open new possibilities to create value across the business from operations through to digital distribution. Find out more

02. Reinventing business models

Over 60% envisage a more flexible, targeted product offering with closer policyholder engagement in an environment of low rates and significant pressure on policyholders following the pandemic. Closer coordination between product and investment teams is considered essential as insurers redesign end-to-end processes and offer new forms of coverage. Find out more

03. Enhancing portfolio flexibility

Close to 60% look to combine a focus on quality with higher diversification, as well as increasing portfolio flexibility with strong governance. While risk appetite is remarkably robust insurers look to strengthen resilience, carefully balancing the focus on quality with the need for higher returns through selectively increasing exposure to illiquid assets. Find out more

04. Prioritising sustainability objectives

78% believe the COVID experience is accelerating their focus on ESG, with over half putting greater emphasis on social and governance aspects. Insurers are looking to embed sustainability across both sides of their balance sheet, using a wide range of approaches. Find out more

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