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Episode 7: The Impact of COVID-19 on Financial Services & Risk. The Impact of COVID-19 on Financial Services & Risk Management. This impacts firm’s revenue and also people’s pockets leading to a recession like scenario. Now, the first of those areas is definitely risk and portfolio management.
While data tends to be used in tactical-operational areas such as HR reporting and controlling, there is still room for improvement in the strategic area of peopleanalytics. Solid reporting provides transparent, consistent and combined HR metrics essential for strategic planning, risk management and the management of HR measures.
They discuss the impact of the pandemic on enterprises and the need to adopt parallel windows – a short term window to get an enterprise’s operational system up and running as effectively as possible, and a medium-term outlook to mitigate the supply chain shocks and risks. Tune in, and don’t forget to subscribe!
Anirban believes that insurers can make the best of the situation by adopting digital practices with AI-tools to stay resilient in the face of uncertainty. And last but not least, insurers are changing their products and underwriting strategy to mitigate this increased risk. Tune in for more details and subscribe now! Subscribe Now.
While customer confidence also takes time to recover from rising unemployment, the economic uncertainty, and anxiousness. Risk management, of course, is more relevant than ever, monitoring exposure to internal and external signals now. But these are reliant on the workforce, and they are neither healthy nor available right now.
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