COVID-19 is more than just a highly contagious and potentially lethal disease; it also led to socioeconomic problems that many experts say will continue to be felt long after the pandemic disappears. At the same time, the pandemic has also raised many concerns surrounding mental health, with anxiety and depression going hand-in-hand with the worry and stress over COVID-19.
Despite such dire circumstances, some P&C insurers have managed to rise to the occasion. And for one insurance leader, he believes that while the pandemic is a terrible thing, it did help teach insurers an important lesson about empathy.
In an Insurance Business Canada panel, CNA Canada president and CEO Nick Creatura said that one of the most notable industry changes he has observed during the pandemic is a massive increase in the empathy quotient (EQ) among insurance co-workers.
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“Throughout the pandemic, we’ve all had to focus . . . on the health and safety of our families, our colleagues. I think when we ask people now how they’re doing, we wish them good health,” Creatura said. “We aren’t just being polite as we would’ve been [before]; we really mean it these days.”
“I sincerely hope that’s the lasting legacy of the pandemic. I think we’ll all be better for it, and maybe that’s the silver lining that comes out of this incredible and very challenging situation.”
Creatura then went on to discuss how, while CNA Canada has “always been focused on driving a strong culture of empathy, collaboration, and inclusiveness”, the pandemic meant that the organization had to double-down on its approach. The chief executive also mentioned that just like other insurance companies, CNA Canada had to be agile in adapting to the situation, figuring out how to take care of its people and maintaining inter-company connections, while ensuring everyone was on the same page when using the company’s virtual tools.
“We’ve learned some lessons. We’ve learned [that] there isn’t any doubt that people can be as productive – more productive – working remotely than they can in the office,” said Creatura, adding that while CNA does recognize the merits of remote work, it still believes that “there is a place for personal interaction.”
“I think we all miss it,” the leader prefaced. “But we know we can be more flexible now.”
Discover more of Creatura’s insights: P&C insurers on their victories
