Reimagining the London Insurance Market05.02.21
In November 2020 the London Market Group (LMG) and Willis Towers Watson published its latest report reflecting on the lessons learnt from lockdown, what has worked or not and how the market can drive positive change and improve performance in the post pandemic world.
The report was based on focus groups with insurance market leaders, eight key themes were identified to help businesses think about what steps they should consider to push forward a transformation agenda that will deliver greater operational efficiencies, better employee experience and broader diversity and inclusion.
Greg Collins, Board Sponsor of the LMG Talent & Diversity workstream and CEO, Miller Insurance Services Ltd. said: “Post-Covid we have a once in a generation opportunity to re-design our businesses. If ever there was an opportunity to seize the initiative it is surely now. In order to thrive, businesses are going to need to invest considerable energy into looking at how best to engage a scattered, remote-heavy workforce, foster digital trading and remain relevant to our clients in a changing risk landscape.
“Our report hopes to start some conversations on how best to make this happen, as well as to provide some food for thought around employee communication, redesigning critical roles for a digital workplace, social responsibility and making change happen. Our market is made up of companies of various shapes and sizes and we have included practical first steps regardless of the size of the business. As part of the report, Willis Towers Watson has put together a “100 Day Thrive Plan” to act as a basic blueprint and practical tool for business leaders which can be tailored according to size and digital maturity.”
Click here to download the full report.