When the COVID-19 pandemic struck, most claims operations succeeded in quickly transitioning their people to remote working and maintaining operational resilience. Looking ahead, however, the priorities are shifting to managing costs and improving quality. Even as claims leaders continue to manage widespread virtual work risks, the pressure to deliver is intensifying.

In the immediate aftermath of the crisis, Ernst & Young LLP's insurance team conducted 10 interactive online workshops with more than 100 senior claims executives to help them:

• Define the many complex risks and opportunities they face
• Assess and prioritize those risks and opportunities
• Define proactive steps and action plans to move forward

From our analysis of the session inputs, we identified the six most meaningful risks and opportunities for claims operations.

1. Managing employee retention and performance in a remote working environment

Remote work is here to stay, which presents a new set of risks from increased cybersecurity threats to organizational and cultural concerns. Claims leaders understand the importance of talent for future success. A full 60% of participants have already turned their attention to the hiring and training processes. A slightly larger percentage view effective strategies to attract and retain employees as an immediate-term focus.