David Marsh is joined by Simon Woods, EY’s global response leader for the Covid-19 repercussions on the insurance industry. They discuss the pandemic’s effect on the global insurance industry, including the immediate and longer-term consequences for operations and technology, looking at the challenges and opportunities brought by digitalisation. They examine the financial health of the insurance sector as a result of the volatility in financial markets and the recession, and what can be said of the significant strain on capital, liquidity, and investment strategies. They address big questions on how the insurance industry can work with customers, governments and regulators in contributing to the wider economic recovery and investigate the outlook for innovation, and worldwide insurance consolidation.
Simon Woods is the leader for insurance strategy for the Europe, Middle East, India and Africa region and a veteran of the sector, having been at EY since 2014, and in the 15 years before that before that covering insurance in various investment banking positions.