2022 Focus Series Press Release: The Covid-19 Coverage Gap: How Insurers Can Respond
Conning Announces its Newest Focus Series -
The Covid-19 Coverage Gap: How Insurers Can Respond
HARTFORD, CT – May 3, 2022 – The Covid-19 pandemic shifted key exposures for property-casualty insurers. Many enterprises closed temporarily or permanently. Business interruption coverage was a hot topic, with frustrated insureds looking for financial relief amid government imposed lockdowns. Further, drivers are taking to the roads less or at different times of day, travel is less predictable, and employment locations shifted to the home office. All told, there was a significant economic impact from the pandemic on the broader economy, and this has created opportunities for change. A clear understanding of how the industry responded to the crisis provides a crucial foundation to identifying new opportunities and challenges in 2022 and beyond.
The Conning Focus Series, “The Covid-19 Coverage Gap: How Insurers Can Respond” provides insight into evolving customer exposure points, associated impacts on insurers, and analysis of industry actions to date, as a result of the pandemic’s economic ramifications. Examples include technology investments and development of products to better serve customers and maintain or grow premiums. “Looking at the key lines of business for property-casualty insurers, it becomes evident that there exists a spectrum of product changes, to meet the needs of insureds post-pandemic, ranging from accelerated adoption of established capabilities to development of private and public partnerships,” said Alan Walters, a Vice President, Insurance Research at Conning.
The study includes analysis of economic trends, as well as a thorough review of insurer strategic responses to the pandemic. “There is by no means a one-size fits all solution,” Scott Hawkins, Head of Insurance Research, added, “but insurers are taking meaningful steps to make coverage pertinent to insureds and to be better positioned going forward.”
“The Covid-19 Coverage Gap: How Insurers Can Respond” is available for purchase from Conning by calling (888) 707-1177 or by visiting https://www.conning.com/insurance-research.
* * *
Conning (www.conning.com) is a leading investment management firm with approximately $203 billion in global assets under management as of March 31, 2022.* With a long history of serving the insurance industry, Conning supports institutional investors, including insurers and pension plans, with investment solutions, risk modeling software, and industry research. Founded in 1912, Conning has investment centers in Asia, Europe and North America.
# # #