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Providing shelter from the storm

How should insurers respond in inflationary times?

Ireland like most western economies is facing into the third year of a macro-economic storm. The inflation rate may be falling from eye-watering highs but is still projected to remain higher than the European Central Bank (ECB) 2% target in 2023 and 2024. The spectre of further increasing interest rates and the potential for recession within the EU compound the challenge.

In this paper, we pose the question: How should insurers respond? How should they consider their response to the crisis within the role they want to play in society, their purpose, and what are the considerations on customers, employees, partners, and other stakeholders.

To survive and thrive in this economic cycle, insurance leaders should frame their response to the inflation crisis in terms that consider the impact on consumer, expenses, and ecosystem partners equally.

Noel Garvey

Noel Garvey
Partner | Insurance

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We hope our paper is of benefit to you as we enter into this year ahead. To view our full range of services, or if you have any queries, meet in the full insurance team here.

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