If you were hoping to get back into the old office routine sometime this year, you will likely be disappointed. Based on a very recent survey of insurance CEOs from around the world1 , it seems less than a third of insurance execs expect their companies to return to ‘normal course of business’ in 2021. The more frequent prediction is sometime in 2022.
What are they waiting for? Our survey suggests they are watching two key indicators: lockdowns and vaccine rollouts. Sixty percent of the CEOs we surveyed said they are waiting until governments in key markets start lifting restrictions. An equal number said they want to see vaccine adoption rates of at least 50 percent in key markets before they consider reopening.
In other words, expect the current virtual culture and work environment to continue for at least 9 more months. And since vaccine rollouts and government restrictions are highly localized, don’t expect to see any global ‘back to work’ dates being set just yet. Taking a local approach within the context of a global organization and ecosystem will likely be the big challenge.