Life insurance and annuities industry remade by COVID-19

The life insurance and annuities industry has faced significant headwinds over the past few years, which have been further exacerbated by the COVID-19 pandemic:

• Sustained low-interest-rate environment
• Elevated expectations around customer experience
• Challenging operating environment for agents
• Workforce and workplace uncertainty

Given the numerous uncertainties, we explore how the insurance sector might evolve over the next one to three years so leaders can:

• Explore 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 to the rapidly changing landscape.
• Move beyond responding to the crisis, and towards recovering in the medium term.