Keith Richards on meeting the challenges of 2021 together
As we reach the end of a challenging year for the sector, I remain proud and inspired by the resilience and adaptivity which the insurance and financial services professions continue to show.
Although the pandemic has had a huge impact on the economy – both in the UK and internationally – we anticipate that economic conditions will improve during 2021 and there are reasons to be positive as we approach the new year.
As the world has wrestled with the impacts of the pandemic, the CII have remained committed to ensuring that your membership is something you can rely on for insight, guidance and professionalism.
Our CII membership programme has continually evolved in the past year to support you through business-relevant continuing professional development, consumer initiatives and the sharing of good practice – and our aim is to continue to do this as we meet the challenges of 2021 together.
A CII online poll in November told us that insurance professionals predict a reduction in the amount of new business they receive as the biggest operational threat they could face next year. An increase in long-term remote working was identified as the second biggest challenge, with insurance professionals having to adapt to the new normal created by measures to slow the spread of Covid-19 at lightning speed.
The pace of change shows no sign of slowing down in 2021 and will bring new business risks and opportunities to rethink old ways of working, drive greater efficiencies and develop new methods of engaging with consumers.
Trust in the insurance profession has been impacted by the events of 2020 and it is vital insurers improve the experience for policyholders by focussing on clarity of proposition, promotion and ease of engagement in the months ahead.
I want to take this opportunity to assure members that we will continue to support you with ways to safely deliver your vital services to the public in 2021 and beyond.
Keith Richards is chief membership officer of the CII