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17% of PFS and CII members to work remotely post covid-19

By Robbie Lawther, 10 Jun 20

Advice firms will need to have ‘key conversations’ about what is best for clients after the pandemic

The coronavirus has thankfully started to ease, sparking discussions about returning to normality.

But insurers and advisers think significant change is on the horizon.

The Personal Finance Society (PFS) and the Chartered Insurance Institute (CII) conducted a Twitter poll, to which 116 insurance professionals and financial advisers responded.

It found only 12% think they will return to the same way they worked before the global pandemic.

A total of 17% plan to work entirely remotely even once the government ends all restrictions to slow the spread of coronavirus.

Some 70% expect a mix of working from home and in an office environment once the threat of covid-19 passes.

Embrace flexibility

Keith Richards, chief executive of the PFS, said: “Members of the insurance and personal finance professions have shown themselves capable of responding to a crisis which have seen the majority successfully transition to working from home to ensure key services and support for consumers and clients is maintained.

“The new way of working for the profession created by the coronavirus pandemic since March has shown what can be achieved when the focus is on the outcomes achieved rather than the hours someone sits in an office at a desk and is likely to influence work practices and propositions for ever.

“I believe we will see a lot of employers embrace more flexibility around working from home in the future.

“A key conversation for senior managers at insurance and financial advice firms will be what works best to deliver the most suitable service and financial planning for the public once government guidance to slow the spread of the coronavirus changes.”

Tags: CII | Covid-19 | PFS

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International Adviser covers the global intermediary market that uses cross-border insurance, investments, banking and pension products on behalf of their high-net-worth clients. No news, articles or content may be reproduced in part or in full without express permission of International Adviser.