Steve Sartor - Managing Director
A lot of economists, politicians, institutes, and specialists already have prognoses for 2020. One thing that we know for sure is that there will be a lot of uncertainty!
The implementation and impact of Brexit, the relationship between the US and China, and the presidential elections in the US, a possible economic decline and the ecological debate as icing on the cake, most probably won’t lead to a lot of coherence in the forecasts.
The political instability in our small country also causes skepticism amongst entrepreneurs and the general public.
In the field of insurances, we note that the market is hardening. Concretely, this means that in certain domains and sectors, the capacity becomes a valuable good and that (re)insurers become more and more selective when it comes to underwriting. The lack of financial income, the solvency requirements, and significant claims on a global world level ensure that technical results prioritize on volumes.
Should we be gloomy for 2020?
Absolutely not! Many entrepreneurs are well prepared for these (possible) changes. Flexibility, combined with the use of new technologies, could give new perspectives to the enterprise world. As for insurances, we can conclude that our clients look at risks differently, and they are starting to emphasize prevention, as well as in certain domains on self-insurance, higher deductibles and/or captive solutions.
What can you expect from Concordia?
Concordia has decided to adjust its structure and organization to help you in a better and more efficient way. A more complex market requires our specialists to be more creative and look for solutions in the national and international markets. Also, as an insurance broker, we are not only acting as a supplier but more and more as an advisor. As a partner of our clients, we not only understand their business, but also the risks they could be confronted with in the future.
The world may change, but you can always count on Concordia to support you, in 2020 and beyond! We insure and manage so that you can perform.