The future is now, and if you want your business to compete over the next few years you may want to pay attention to the following topics. There are a number of factors that will affect the business of insurance in the near future.
Technology
Our world has gone digital. Technology has changed the way you relate with your customers. Have you invested in the right technology, and do you have it insured?
Cyber Liability
With the growth of technology, we can now access and store data from our cars, homes and while on the go. This creates a real need to have effective data security, the most up to date protection, and policies and procedures for use and storage. Part of cyber management includes having a cyber-liability policy for your business.
The Next Generation of Leaders
Millennials will lead the next generation in the workforce. Is your business prepared? Millennials like to live and work in the same community, use public transportation and work from home.
Energy Prices
As the price of oil drops it has become more economical to deliver goods and services. However, there are more auto accidents as a result.
COVID
Every business should have COVID-19 safety procedures in place. Helping your employees return to work safely and confidently during the coronavirus (COVID-19) pandemic is no easy task.
Employers must ensure social distancing for employees and customers, frequent and adequate employee hand-washing, and that sick employees stay home. Employers must also provide basic workplace hazard education about coronavirus and how to prevent transmission in languages best understood by employees. Your workers’ compensation insurer can offer tools and advice in this area.
Employment Liability
If you have employees, you are exposed to potential employment liability claims. Employees know their rights, and it is time for all employers to become more informed about how to protect their companies. An EPLI policy covers claims made against directors, officers, employees, the company and its subsidiaries.