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July 28, 2021
Why insurers must embrace strategic cost transformation
There is broad consensus that the COVID-19 pandemic has accelerated important changes that were already underway in the insurance industry. The financial strains caused by the economic lockdown have increased the urgency for insurers to establish a leaner cost base. However, past approaches to cost reduction no longer suit a fundamentally changed market landscape. Sustainable long-term growth in insurance requires more efficient and agile operating models. An EY article provides details.