As the news around us spins to a fevered pitch of intensity, these two quotes keep coming back to me.
The first, of course, is from the unscrupulous opportunist Littlefinger in Game of Thrones. Disruption is frightening, but presents new opportunities. Entire industries, including insurance, have been operating virtually for the past six months. Digitized experiences and collaboration environments, analytics-driven risk analysis in underwriting and claims, artificial intelligence and automation are all coming to fore, because the comfortable, “normal” ways of doing things have been snatched away. It’s a time of opportunity for change, for shaking off the constraints of the past.
But the second quote is critical too. It’s from the late Michelle McNamara, author of I’ll be Gone in the Dark to her husband, comedian Patton Oswalt, reminding him to have empathy for strangers. As we stare down an extended pandemic period, our insurer clients and council members are greatly concerned with potential mental health issues among their teams and maintaining culture in the remote operating model. Everyone, from policyholders to distributors and internal staff, are uneasy about the changes in the world they live in. The more honest, empathetic communication insurers can foster, the better they can serve all stakeholders.
Insurer’s strategies for 2021 must balance this unique opportunity for evolution with deep empathy for those they are offering to bring with them on the journey. Novarica is here to help.
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