Standard and Poor’s 2022 Commercial Insurance Industry Outlook is now available. Here are 5 takeaways.<\/p>\n\n\n\n
RiskAndInsurance.com<\/a> | By:\u00a0Abi Potter Clough<\/a>\u00a0| December 13, 2021 | Commercial Insurance<\/a><\/p>\n\n\n\n 2021 was a pivotal year in the risk and insurance industry, and 2022 will no doubt bring new risks to light.<\/p>\n\n\n\n The pandemic created supply chain issues that restricted the ability of many businesses to operate, and spurred the need for innovative technology solutions to allow workers to do their jobs from home. New concerns arose to accompany these changes \u2014 like the increased cybersecurity concerns from a newly minted work-from-home workforce.<\/p>\n\n\n\n Ransomware and phishing attacks struck companies and organizations from every industry, even insurance companies.<\/p>\n\n\n\n But opportunities also emerged for companies to work differently.<\/p>\n\n\n\n Innovations in technology allowed work to continue from home as people found new ways to collaborate. Virtual tools made it easier for claims adjusters to view damaged property remotely and to settle claims virtually. Telehealth visits allowed injured workers to see their providers safely without risking leaving their homes during the pandemic.<\/p>\n\n\n\n There is no going back to the way things used to be \u2014 the new normal following the pandemic means technological innovations are here to stay. Insurance companies are working differently, and the trend is expected to continue.<\/p>\n\n\n\n To better understand how this flurry of changes will affect the commercial insurance industry, S&P Global Market Intelligence released its report, \u201cThe Big Picture \u2013 2022 Insurance Industry Outlook<\/a>.\u201d<\/p>\n\n\n\n The company\u2019s short take on the industry outlook for 2022 is that insurers will continue to need to respond swiftly to changing market conditions and be willing to \u201cshatter their status quo\u201d to manage the challenges that arise from new and evolving risks in many areas.<\/p>\n\n\n\n In the report, S&P Global Market Intelligence identified five significant areas of focus for the risk and insurance industry next year.<\/p>\n\n\n\n Click here for the full story<\/a>…<\/p>\n\n\n\n Standard and Poor’s 2022 Commercial Insurance Industry Outlook is now available. Read the article for the 5 takeaways….<\/p>\n","protected":false},"author":2,"featured_media":11849,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,1,2],"tags":[15,31,2029,2032,2028],"class_list":["post-11848","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-blog","category-insurance","category-shield-blog","tag-business","tag-commercial-insurance","tag-industry-outlook","tag-risk-and-insurance-industry","tag-standard-and-poors"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t1) Technology Continues to be Key<\/strong> for Commercial Insurance<\/h3>\n\n\n\n
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