Businesses are evolving with each passing day. What was once an integral part of your business strategy is nowhere to be found today. 2020 marks the start of a new decade, and this could mean great opportunities for your business, but you need to be prepared for the challenges that will be coming too. In such a dynamic business world, how can you survive with this intense competition? Unfortunately, what most businesses don’t focus on hurdles they will face that will hinder their progress towards their goal. What’s more, obstacles might be different for every business. Some might consider scaling as a challenge while others might think of regulations hard to comply.
Insurers are facing tough times as profitability continues to go downhill, thanks in-part to overcapacity. As a result, there is an increasing pressure to control and reduce expenses. Market volatility and sustained low rates put pressure on earnings. In addition, rates continue to be low or with minor increases which also continues to put pressure on earnings. This all leads to cost reductions at a time where many need to invest in order to modernize infrastructure.
Ultimma Training conducted training to Alliance Insurance on how to face challenges in 2020. The training addressed in the areas of ‘How to manage changes’, ‘Setting goals in 2020’ and a positive attitude. Around 60 participants attended the training.
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