Outsourcing has moved front and center as the P&C industry transforms to manage today’s new realities, but it has become much more sophisticated.

We have all been living through a period of intense uncertainty for almost three years, and the pace of disruption shows few signs of slowing; instead, it is morphing.

The degree to which the post-COVID world in which the property & casualty insurance industry operates has changed, and how quickly, cannot be overstated.

The impact has been pervasive and has affected the entire social, economic and political world in which we live and work. Nothing and no one have been spared.

Inflation, both social and economic, emerged suddenly this year and has driven up insurance claim costs and severity with no end in sight, causing insurers to play ‘catch up’ through double-digit premium increases and extreme overhead reductions, including downsizing of both physical facilities and workforce while simultaneously struggling to find talent for open positions.