Insurance remade


Property and casualty insurance industry remade

Scenarios for resilient leaders in a post-COVID-19 world

Uncertainties related to COVID-19 make it difficult to predict the future for property and casualty (P&C) insurance leaders. These scenarios explore how the US property and casualty insurance industry landscape may develop over the next one to three years to help spark insight and spot future opportunity.

In the wake of COVID-19, Deloitte and Salesforce hosted a dialogue among renowned scenario thinkers to consider the potential societal and business impact of the pandemic. The results of this collaboration can be found in "The World Remade: Scenarios for Resilient Leaders."

The P&C insurance industry remade

Humanity is facing a crisis unlike any known to our generation—and as a result, insurers must prepare for an uncertain future. We explore how the insurance sector might evolve over the next one to three years in our latest perspective so you can:

  • Understand how trends we see during the pandemic could shape what insurance may look like in the medium term.
  • Have productive conversations around the lasting implications and impacts of the crisis.
  • Identify decisions and actions that will improve resilience in this rapidly changing landscape.
  • Move beyond responding to the crisis and towards recovering in the near term.

Deloitte’s Resilient Leadership framework defines three time frames of the crisis.

P&C insurance industry remade by COVID-19

Four COVID-19 property and casualty insurance scenarios

The current crisis could unfold in four ways over the next one to three years.

Click image to enlarge

Five critical uncertainties will drive the overall impact of COVID-19:

  1. The overall severity of the pandemic and pattern of disease progression.
  2. The level of collaboration within and between countries.
  3. The health care system response to the crisis.
  4. The economic consequences of the crisis.
  5. The level of social cohesion in response to the crisis.

For an in-depth discussion of scenario planning for leaders, potential implications across three dimensions, and various opportunities and risks, download the PDF here.

Get in touch

Paul Nelson
Principal, US Insurance Strategy leader
Deloitte Consulting LLP
+1 617 437 3257
Kristen Stuart
Principal, Cross-Industry Strategy
Deloitte Consulting LLP
+1 617 449 5022
Puneet Kakar
Principal, Insurance Strategy
Deloitte Consulting LLP
+1 212 829 6210
Rohit Malhotra
Principal, US P&C Insurance Subsector leader
Deloitte Consulting LLP
+1 212 618 4531

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