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Consulting firm shows five post-Covid-19 insurance trends in Latin America

 


Sonho Seguro | September 17, 2020



The Sonho Seguro article, “Consulting firm shows five post-Covid-19 insurance trends in Latin America," features key insurance trends in the Latin American market found by Russell Reynolds Associates Consultant Fernando Machado and team. A translated excerpt of the article is below.

Russell Reynolds Associates, a consultancy specializing in recruiting and evaluating C-Levels executives, conducted a study on the impact of Covid-19 under the leadership of the insurance market in Latin America. Together with colleagues from Mexico and Argentina, Fernando Machado, a consulting partner at Russell Reynolds Associates, interviewed more than 25 insurance industry leaders in Latin America to understand emerging market trends for post-pandemic Latin America.

Here are some trends:

Consumers - Given the crisis caused by Covid19, consumers are becoming more open to other insurance products, such as: life, health and home.

Products - Insurance companies in the region are developing new products to meet existing and emerging demands, such as: intermittent insurance, payment for use, cyber coverage, natural disasters and pandemic risks.

Channels - Given the increasingly competitive scenario, the industry is developing new digital channels. Some companies are deploying on-demand platform models and taking advantage of third-party distributors such as applications, websites and social media.

To read the full article, click here.