Find out which are the main trends that will make the insurance industry thrive in the post-pandemic world and how can strategic alliances be forged between the participants to the policy process.
After several months, the effects of the pandemic on different sectors can be better recognized. We have had to adapt ourselves to the exceptional circumstances, involving adjustments in business models, a turn towards digitalization and modifications in labor relations.
These were times of great uncertainty for the insurance sector, but the outlook is beginning to be revealed. It is a strategic moment to help people achieve the financial security and tranquility they need to face the current challenges. Furthermore, it is a unique opportunity to stimulate the development of an industry that is undergoing an accelerated transformation.
Digitalization and Teleworking
Due to the pandemic, the obsolescence of paper has accelerated, and the digitalization of data, procedures and paperwork is almost completed. Many were already following that course, but for others it is brand-new. Regarding sales, agents have had to learn about digital marketing and the endless possibilities provided by social networks, which will last in the long term. On the other hand, communication channels and procedures must be properly managed to optimize work and avoid confusion.
Training and Support
Remote work implies a great monitoring challenge for companies. They must provide their employees with all the tools they need to achieve high productivity levels while working from home. These go from technological training to suitable furniture, such as a comfortable chair. Supra accompanies its agents with online training and workshops with innovative tools that help them stay close to their clients in times of social distancing.
Everyone’s needs have changed. While financial peace of mind and reliable financial protection have become even more crucial, other solutions do not make much sense anymore. Faced with this situation, providing a quick and effective response that adapts to the new normal is of critical importance, with products such as virtual medical assistance or flexible policies that cover for unforeseen events.
Short and Long-Term Actions
In these troubled times, the number of decisions that are made on the spot is higher than usual. There lies the importance of being prepared and identifying which issues will vary once the pandemic is over, and which will persist beyond the context. For example, as we mentioned, it is known that the digital work platform has come to stay, so it is essential that it be done in a conscious and orderly way, to avoid problems that may arise later.
Many of these variations are already taking place, others will require time and a trial and error process. Our priority at Supra is providing our clients with a first-class service and motivating our agents to grow professionally.