Loading...

Navigating the COVID-19 Storm: Banking & Insurance

Navigating the COVID-19 Storm: Banking and Insurance Navigating the COVID-19 Storm: Banking and Insurance

We know that the crisis will increase credit risk in the financial industry (a report published by Ernst & Young recently emphasizes this). This global situation that we are going through will also mean a dramatic increase in the number of insurance claims, bringing important consequences for that industry. According to the consulting firm, companies in the financial sector must take care of how their image to their clients can be impacted during the pandemic, and focus on having an adequate communication strategy, acting as transparently as possible with investors and clients.

The report also warns of a long-term trend towards the need to focus even more on the digital distribution of services and the evaluation of business continuity scenarios. In the long term, EY envisions the need to launch flexible and adaptable models of cybersecurity and the availability of business services in preparation for the disruption that the crisis will bring.

[...] companies in the financial sector must take care of how their image to their clients can be impacted during the pandemic [...]

Get in touch!

Call to actionLet’s start working together!

In line with these strategic recommendations, I continue to elaborate on actions and initiatives that, although they are already on the agenda of most banks and insurers that I know, the priority, agility and modality of implementation should undoubtedly acquire a different color from that light of what is happening in the world:

The global health crisis puts additional stress on trends that had already been driving under the Digital Transformation umbrella - but are now becoming vehicles for healthy sustainability in order to navigate the global storm caused by COVID-19.

Questions you should be asking yourself?

Choose the right team for your agile project!

Call to actionDownload our latest infographic!

Novacomp Blog

Stay on top of the latest trends and best practices from our blog

I agree to receive information from Novacomp. Read our terms and conditions.

Novacomp Blog

Become One of Our Success CasesBecome One of Our Success Cases

Novacomp utilizes Cookies to improve your experience on our site. Cookies enable certain features, grant social sharing options, offer functionality and tailor messages and display ads to your interest. They also help us understand how our site is being used. Find out more here. By continuing to use our site, you consent to the use of Cookies, in accordance with our Cookies Policy.