Time to rethink life insurance?

How COVID-19 has put pressure on providers to transform

Over half the people in the UK potentially suitable for life protection insurance do not currently have any. That is a massive market. But it is one the life protection industry has historically struggled to crack. But in the wake of COVID-19 that may be about to change - providing insurers can adapt.

The COVID-19 crisis has highlighted the significant role life protection insurance can play in improving financial resilience and it has clearly driven increased awareness and interest in cover. This means there’s a window of opportunity - but for who?

Pre-COVID-19 the industry was already facing major disruption – specifically from tech-savvy new entrants. COVID-19 has accelerated that disruption. So incumbents need to use this unique moment in time to serve as a catalyst for change, because if they fail to react effectively more agile rivals may move in.

Sign up to download our insights

Please complete all form fields

By submitting your information you acknowledge that PwC UK may, from time to time, send you material relevant to your interests and confirm that you have read our privacy statement.

* denotes mandatory field