The Road Ahead for Financial Institutions and Insurance Organizations

The global pandemic has been challenging. For financial institutions and insurers, it brought up painful memories of the 2008 financial crisis and tested the systems put in place after that crisis. Businesses spent a decade on stress testing and capital rebuilds with the goal of ensuring enough financial resources to weather a downturn. But cash flow pressures and strain on investment portfolios hit hard. This coupled with delayed payments and falling investment demand forced another shift. Financial institutions and insurers had to reimagine their business models—again.