Claims professionals are no stranger to catastrophe and disruption. It’s imperative that the claims process continues to expand its risk strategies in spite of hurdles, starting with fostering relationships and utilizing technology.
In their annual risk report, Allianz reported that the risk of pandemic outbreak skyrocketed to the top of 2020’s largest risks. Other risks that are usually ranked high, including business interruption and cyber risk, became even more prominent amid COVID-19.
The health care industry has borne a heavy burden throughout the pandemic. Burnout, a potentially dangerous talent gap and increasing financial strain on the industry are key risks insurance executives have in sharp focus.
The year 2020 brought unexpected and grueling risk across several different sectors. We take a look at the most prominent risks faced this year and the lessons learned from them as 2021 quickly approaches.