It is the role of the insurance industry to take on the volatility that clients and corporates are unwilling to take. As a rule, the value of insurance rises during times of crises. Consumers tend to buy more insurance when things are bad?
COVID-19 went against this norm mainly because insurers were not ready for the crisis.
Travis Callahan, co-founder and president of Ignatica, talks to FutureCIO on the state of the insurance sector and how the industry can pivot in times of crises.