Today, one in ten insurers say they have reached the threshold of future-ready operations. Three years ago, no insurers identified as future-ready. (Graphic provided by Accenture)
While reflecting on the one-year anniversary of COVID-19 in the United States, it's easy to see this past year has been challenging in unprecedented ways. The pandemic spared no industry from COVID-19′s impact, and the impact on insurance is notable.
Business and economic disruptions hit the insurance industry, just like every other. But insurers also saw catastrophic events linked to climate change upend historically reliable risk models. While these events exposed the vulnerability of insurers, they also revealed the opportunities for insurers to elevate business performance.
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