The economy is slowing down: what does it mean for insurance companies?

| April 21, 2020

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Since 2010, as countries waded out of the recession of 2008, they enjoyed economic growth. Coupled with technological innovation, the global economy really got a boost. But, mirroring Nature’s cycles, it seems it is now time to hit a plateau and slow down. In this article, we explore why the slowdown could be happening and more importantly, what it means for us in the insurance industry.

Spotlight

Brokers Alliance Inc

Imagine if we decided travel by horse was good enough, or that it was suitable to just compute our math problems with an abacus. Imagine if we still had to stop on the way to a client appointment at the local gas station for a map and a payphone. Now ask yourself, how dependent am I on my car, my cell phone, and my computer? Brokers Alliance decided a long time ago that status quo wasn't good enough. Complacency wasn't good enough. Doing things “the way they have always been done” wasn’t good enough. We are inventors, innovators, and thinkers for an industry that has historically settled for "good enough”.

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Spotlight

Brokers Alliance Inc

Imagine if we decided travel by horse was good enough, or that it was suitable to just compute our math problems with an abacus. Imagine if we still had to stop on the way to a client appointment at the local gas station for a map and a payphone. Now ask yourself, how dependent am I on my car, my cell phone, and my computer? Brokers Alliance decided a long time ago that status quo wasn't good enough. Complacency wasn't good enough. Doing things “the way they have always been done” wasn’t good enough. We are inventors, innovators, and thinkers for an industry that has historically settled for "good enough”.

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