Digital technology has become critical to provide core claims services during lockdown. Verisk is at the forefront in this field with a full range of claims solutions.
Despite the challenges of the pandemic, it has also kickstarted operational and societal changes that have showcased that Lloyd's can adapt to a more digital environment.
Crucial questions remain over whether insurers have the in-house capacity and expertise to develop truly fit-for-purpose solutions, or if they should opt for an industry partner to deploy an off-the shelf solution.
While the world faces logistical challenges from COVID-19, insurance claims will continue, and weather-related catastrophes will not abate due to the spread of COVID-19.