22Apr2020

Life insurance industry during COVID-19 pandemic

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We continue to monitor and absorb the shockwaves reverberating around the world. As the pinnacle of this pandemic spikes, we remain shocked at the number of deaths caused directly by the coronavirus.  The team at Life Insurance Cover UK, in line with the rest of the globe, stay incredibly grateful for everything key and frontline workers are doing for us, from treating patients and vulnerable people under stressful conditions to collecting the refuge and keeping areas clean and protected from the coronavirus.

Game-changing pandemic for even the best life insurance policy companies

Regarding life insurance, the future is cautiously optimistic, with heavy reliance on updated technology, using existing medical evidence to process claims quickly, admitting third party medical evidence and specialist reports for setting up new life insurance policies.

Going far to provide life insurance quotes during  pandemic outbreak

The best life insurance company and organisation will go the extra mile to pilot new schemes to make services easily accessible with virtual medical checks and screenings. The current crisis is paving the way for the future of further life insurance policy processing and life insurance claim handling.  We witness support centres offering virtual access to specialist advisors. Here you can receive practical advice provided by preferred platform communication channels including telephone, video consultation, life insurance mobile apps or secure email.

Is the coronavirus a catalyst for change in best life insurance policy practice?

Everyday life will never be the same again.  Many people continue to do their bit to halt the spread of the virus by staying at home. With the recent figures prompting the Government to extend the quarantine, working from home is an essential component to financial stability and survival.  Many of us are lucky to have embraced remote working, and digital meetings are the norm.  Provided we have the necessary tech tools working from home is straightforward and possibly become long-lasting for many industries with a rapid transition from office-based to remote working from management to clerical.  Coronavirus has been a catalyst for change.  The effect of the virus had forced us to adapt and think outside the box, stretching technological boundaries for every age.  However, there are benefits to be felt, whether it is financial, circumventing the need for expensive office space, business rates, insurance etc., to improved climate and environment due to less rush hour traffic.  The convenience of working from home is happening right now, and people will embrace this in a way they could never have imagined.

Virtual enterprise for life insurance policy industries

The switch to virtual enterprise has some negative downsides for industries where manual processing is the core of a particular sector and not easily transferred to remote working scenarios. Conversely, a preference for meeting clients face-to-face is the norm, where building rapport, gaining trust and creating new relationships are essential elements. A handshake over an expensive business lunch, clinching a deal over a bottle of wine is at the heart of many businesses.

One inevitable outcome from the pandemic is the glaring evidence of how we can adapt to change and take up the flexibility baton and run with it. When these testing times abate, the impact of COVID-19 upon the globe will continue. These are tough times, but we remain optimistic that innovation and growth will provide the tools for survival.

We continue to support you and provide best life insurance policy advice

At Life Insurance Cover UK, we continue to review the situation, and we remain at your disposal, available to continue to provide life insurance cover quotes and advice, ensuring you stay protected beyond the COVID-19 crisis.  Sir Winston Churchill once stated that Life Insurance is a foundation of British society, and this portrayal is one that will continue for the future. Ensure you speak to a reputable life insurance agent today.

 

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