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The time to evolve is now — insurers must persevere through the pandemic, harness invaluable data-driven insights and tackle the market head-on. (Credit: Blue Planet Studio/stock.adobe.com) The time to evolve is now — insurers must persevere through the pandemic, harness invaluable data-driven insights and tackle the market head-on. (Credit: Blue Planet Studio/stock.adobe.com)

The insurance industry was formed to create a cushion for those inevitable bumps in the road, but the bumps in 2020 felt more like a mountain. In the blink of an eye, the whole world was faced with a global pandemic that has altered the way we live, shop and play.

While remote working had increased in recent years, it skyrocketed in 2020, stretching insurers’ technologies to the max as customers called their providers amid concerns of COVID-19. Insurers, much like banks and other vital institutions, were overwhelmed by the inquiries they received at what may have been the most challenging period they have ever faced.

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