COVID-19 has tested organisations’ resilience in real-time as they battle to maintain business stability and operational continuity. The insurance market has shown great strength in adapting to the lockdown, and the crisis brought the topic of operational resilience to the fore of executive focus. Whilst the priority now is on maintaining operations for customers and the market, organisations should be thinking about how they transition out of the lockdown to the ‘new reality’ and what the long-term implications for their organisation might be.
In our publication “Insurance Business Resilience – Emerging from COVID-19”, we give practical steps that insurance firms should be following in 4 distinct COVID-19 recovery stages: reaction, resilience, recovery, new reality. We show how the adoption of strong business resilience approach can make the recovery journey for insurance organisation much more successful and sustainable.
Do get in touch if KPMG can support you with your recovery journey or in preparation for the Operational Resilience regime, or if you have any questions.