A key workplace challenge – and not one exclusive to the insurance industry – is that a balance must be struck between people, place and technology. A conundrum intensified by the pandemic, is that while new workers were being hired (without ever seeing the inside of their office) older workers were aging out of the workplace (taking years of experience with them). In a post-pandemic world, this situation persists as each generation maintains different expectations of the physical and virtual workplace.
Future growth dependent on M&A activity
One business challenge facing the industry is that future growth will increasingly depend upon mergers, acquisitions and third-party partners to expand and innovate services. This will pose new challenges in change management, communications and assimilation; process and regulations; safety and security. Creating an environment where a collegial, cohesive culture can thrive will be essential.