COVID-19: Impact on Insurance and Response

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Understanding the COVID-19 impact on insurance and what it means for insurers

The COVID-19 crisis is hitting businesses across the globe as they scramble to overcome challenges associated with logistics, workforce, operations and supply chain, finance and liquidity, tax and trade, and strategy and brand. This will inevitably impact the insurance industry where insurers will be expected to not only support their customers by responding swiftly and effectively, but also safeguard investment portfolios and comply with new regulations triggered by the crisis. Understanding the impact of COVID-19 on the insurance sector will necessitate analyzing the effects from three different dimensions – resilience, value and growth – and adopting digital technology backed solutions to counter the impact.

Managing the effects on insurance in the post COVID-19 era will require insurers to

Ensure smooth working of customer-facing functions
Adopt technology enablers to manage the continuously changing situation
Reimagine sales, products, and investment management functions
Introspect and make plans to future-proof the business beyond the new normal

About the authors

K Ramamoorthy

K Ramamoorthy heads the BFSI Insurance Domain Practice at TCS. In this role, he is responsible for thought leadership on Insurance business and technology

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Srinivasa Kumar Yerchuru

Srinivasa Kumar Yerchuru heads the Capital Markets practice within the Banking and Financial Services (BFS) business unit at Tata Consultancy Services (TCS).

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COVID-19 – A New Beginning for Insurers

K Ramamoorthy

Head, Insurance Advisory Group, BFSI, TCS

Srinivasa Kumar Yerchuru

Head, Insurance Advisory Group, BFSI, TCS

Understanding the COVID-19 impact on insurance and what it means for insurers

About the authors

K Ramamoorthy

Srinivasa Kumar Yerchuru

Transformation starts here

TCS is here to make a difference through technology.

We’re in it for good, driving positive change for the benefit of all.

Recent News

Extraordinary expertise leads to remarkable results.

Want to be a global change-maker? Join our team.

TCS works hand in hand with world-leading investors.

TCS is here to make a difference through technology.

We’re in it for good, driving positive change for the benefit of all.

Recent News

Extraordinary expertise leads to remarkable results.

Want to be a global change-maker? Join our team.

TCS works hand in hand with world-leading investors.

Understanding the COVID-19 impact on insurance and what it means for insurers

About the authors

K Ramamoorthy

Srinivasa Kumar Yerchuru

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