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Snap Poll of Life Insurers on COVID-19 Implications April 2020

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12 June 2020
Karen Monks

Available Only for Members of the NA Celent Life Insurance Research Panel

Abstract

Celent began our 2020 Snap Polls in April with two questions about COVID-19.

Coronavirus has required an urgent response from all of us. Even though the future remains highly uncertain, many pandemic models suggest current social distancing mandates may not be relaxed for some time. The longer-term future may be more uncertain. We expect:

COVID-19 will catalyze significant long-term changes to how consumers interact with their financial institutions. The industry will not return to normal post-crisis. Instead it will evolve to a new normal.

This invited two critical questions:

  1. What will be the new normal (what are your institution’s planning assumptions)?
  2. How should your financial institution respond and invest?

The deck presents the results from our research panel respondents.

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