From the Editor's Desk
Insurance leaders discuss lessons learned from managing remote workforces. In the July issue, Best’s Review also presents its annual ranking of the top global brokers and rankings of top insurers.
- Patricia Vowinkel
- July 2020
In mid-March, business leaders found themselves scrambling to adapt to a rapidly changing environment.
In the space of just a few days, many businesses began operating with remote workforces as concerns about the coronavirus began triggering lockdown orders across the country.
The sudden move to remote work put IT systems to the test and forced big changes in the day-to-day routines for many people. It also forced insurance leaders to rethink how best to manage their employees when nearly the entire staff is working from home.
It has been a year of major change and it's only half done. At the start of the second half of 2020, the insurance industry faces many unknowns.
Businesses have begun to reopen as the government-ordered lockdowns that had forced them to close for much of the spring began to relax. The focus for many now turns to how to open safely.
Civil unrest that had flared up in early June could further set back efforts to restart the economy. The Atlantic hurricane season, meanwhile, got off to an active start with three tropical storms in the first few days of June.
Still ahead: A U.S. presidential election and the possibility of a second wave of COVID-19.
If there have been many uncertainties this year, one thing is clear—leaders have had no shortage of management challenges.
In “Remote Access,” Best's Review speaks with several industry CEOs about what they have learned managing remote workforces.
The July edition of Best's Review is known as our Leaders issue and in it, we present AM Best data ranking top insurers across industry sectors. Best's Review also presents our ranking of the top global insurance brokers. July is Brokers and Agents Awareness Month. Find out how the brokers rank based on 2019 total revenue in “Top Global Insurance Brokers.”
“Standing the Test of Time” provides a look at insurers that have maintained a Best's Financial Strength Rating of A or higher for at least 50 years and at least 75 years.
For the life insurance industry, the COVID-19 shutdowns also forced quick and dramatic change. In “Making the Jump,” Best's Review examines the progress life insurers have made in accelerated underwriting and digital sales processes.
In this issue, Best's Review also provides coverage of an AM Best webinar, AM Best Panel: COVID-19 Stress Testing Results and Next Steps. The webinar was held in conjunction with the release of Best's Special Report, Stress Testing Rated Companies for COVID-19.
The pandemic has had an impact on many areas of the insurance industry and will force many insurers to reassess coverages and operations.
Watch for our upcoming “COVID-19: Insurance Industry Transformed” panel discussions. Top industry leaders will share their thoughts about the pandemic and its impact on the insurance industry in these discussions, which will air on AMBestTV beginning August 17, with in-depth coverage in the September issue of Best's Review.