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COVID-19 Pandemic Adds Complexity to Insurers’ Compliance Efforts

Last week nearly 300 compliance professionals attended a virtual session about the new challenges they are confronting due to the COVID-19 pandemic. A panel of experts led by Skip Edmonds, head of LL Global’s Compliance and Regulatory Practice, discussed how their companies are adapting to the new environment.

COVID-19 Drives Shift in Priorities: Technology Cited as Top Challenge Facing the Global Life Insurance Industry

As COVID-19 prompted life insurance companies to accelerate their digital adoption to ensure continuity of business and serve their customers, it exposed the challenges of life insurers’ legacy systems, siloed operations and the continued need to modernize. As a result, life insurance executives cited technology as both the top challenge facing their companies and the external force driving change in the industry, according to the latest C-suite life insurance executive survey by LIMRA and Boston Consulting Group (BCG)

How Technology Empowered Life Insurers to Respond to COVID-19

COVID-19 has changed the world in so many ways. The way we work and interact with each other has changed dramatically. It also changed the life insurance industry. Because of social distancing, companies had to adjust their day-to-day operations to continue to serve their current and potential customers.

Insurance Executives Believe Companies’ Digital Transformation Efforts Will Continue as Pandemic Fades

New research by LIMRA and McKinsey & Co. finds 8 in 10 insurance executives believe their companies’ efforts to adopt digital solutions accelerated due to the COVID-19 pandemic. Most (9 in 10) agree that consumer expectations will demand these efforts continue post-pandemic.

Employers Expect to Shift Workplace Benefits Strategies to Lure Top Talent

As employers navigate the tightest job market in 50 years, new research suggests they need to consider shifting their employee benefits strategies to attract and retain an increasingly diverse workforce.

Advancing Your Digital Strategy

Today’s technology has enabled companies to access and analyze data at a dizzying rate. It is creating disruption for many industries, as companies like Amazon, Google and Apple change the way people live, shop and engage with each other.

LIMRA/LOMA: U.S. Life Insurers Have Plans in Place for a Pandemic

A quick LIMRA and LOMA survey of financial services companies found that 91% have a pandemic stress scenario in place. In addition, 71% have assessed and quantified the potential impact on their key business in the event of higher mortality.

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