JOHN PYALL | Senior Product and Wordings Manager, Great Lakes Insurance SE, Munich Re

COVID-19 has had a profound impact on the insurance industry, not only on the results of the business lines but also on the way customers, regulators, and the insurers themselves look at how the business operates. This article looks at the challenges that insurers have faced over the last few years, the potential issues insurers need to address in order to keep themselves relevant, and how they can take the necessary steps to adapt to the dynamic market situation they find themselves in.