Insurance professionals identify biggest challenges for 2021

Greater remote working was identified by the 212 Chartered Insurance Institute members took part in the online poll in November 2020 as the second biggest challenge they face this year.

Updating IT processes to cope with the new normal way of working was seen as the biggest issue to overcome in 2021 by one in five of the insurance professionals the CII polled.

Just 10 (4.7 per cent) of the 212 insurance professionals polled flagged fraud risk as the greatest challenge to the way they work this year.

Keith Richards, chief membership officer of the Chartered Insurance Institute, said: “Insurance professionals have had to adapt to the new normal created by measures to slow the spread of Covid-19 at lightning speed.

“The pace of change shows no sign of slowing down in 2021 and will bring new business risks and opportunities to rethink old ways of working, drive greater efficiencies and develop new methods of engaging with consumers.

“Trust in the insurance profession has been impacted by the events of 2020 and it is vital insurers improve the experience for policyholders by focussing on clarity of proposition, promotion and ease of engagement in the months ahead.

“The Chartered Insurance Institute will continue to support members with ways to continue to safely deliver their vital services to the public in the year ahead.”