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Instant Insights / 2021: Insurance trends and issues to watch

After a year as challenging as 2020, insurance professionals and insureds looking at 2021 with a positive outlook. But that doesn’t mean they are resting on their laurels. Now is the time for agents, brokers, and insurers to strategize for the months ahead. These articles provide insights into the insurance and risk management trends to keep top-of-mind this year.

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There is an opportunity now for insurance professionals take the lessons learned in 2020 and apply them to how the business will operate in the future. (Photo: Zatevahins/Shutterstock) There is an opportunity now for insurance professionals to take the lessons learned in 2020 and apply them to how the business will operate in the future. (Photo: Zatevahins/Shutterstock)

Insurance is a team sport, and I have no doubt that both on a company and an industry level, it was working as a team that got us through 2020. The COVID-19 pandemic has forced us to focus on being nimble and on finding new ways of collaborating and supporting each other. This is true across the insurance industry, but especially true of any firms going through a turn-around period. Difficult circumstances, like those we experienced in 2020, can muddy the waters, particularly when you’re looking to exit businesses that don’t fit your company’s strategy or grow successful parts of your portfolio.

2020 has seen many of us dealing with the mental health impact of huge change and stress. In my case, with two children homeschooling, two children unexpectedly back from college, and my wife and I working at home, the family was fighting not just for broadband but also somewhere to sit. Hot desking took on a whole new meaning!

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