Drive to thrive: Sedgwick highlights industry trends for 2021

MEMPHIS, Tenn., Jan. 12, 2021 /PRNewswire/ -- Sedgwick, a leading global provider of technology-enabled risk, benefits and integrated business solutions, today published "Drive to thrive in 2021," which highlights major industry trends and issues that employers, carriers, brokers, risk management and human resources professionals should watch throughout the coming year to remain ready as we move from "what now" to "what's next."

"2020 was a year like no other and it is undeniable that 2021 will also bring its own set of unique challenges. We are confident that tough times we endured last year will ultimately usher in positive change and highlight our industry's resiliency," said Mike Arbour, Sedgwick chief executive officer. "I am confident that the new year will bring many new opportunities for growth. Those who thrive in the aftermath of adversity do so in large part not by simply staying the course, but by adapting and embracing change. Sedgwick will remain committed to helping our colleagues, clients and business partners thrive no matter what comes our way in 2021."

Sedgwick has evolved over the past year – a combination of planned growth and proactive response to the complexities of 2020. Our experts and thought leaders bring a newly broadened perspective, and our areas of focus reach farther and span more of our clients' needs than ever before. Accordingly, we believe the diverse topics and trends outlined below will significantly impact the industry in 2021 and will continue to monitor them throughout the year.

Resilience >>> Readiness

• Supporting physical, emotional and financial wellness
• Overcoming COVID-19 fear factor and fatigue
• Planning for business continuity
• Protecting your business and brand

People >>> Productivity

• Adapting to the new remote reality
• Closing the talent gap
• Combating COVID-related workforce challenges
• Choosing a "people first" strategy

Care >>> Advocacy

• Addressing essential worker burnout, healthcare shortages and PTSD trends
• Leading with empathy for benefits and beyond
• Navigating drug trends, testing and treatment
• Continuing care in a socially distanced future
• Cultivating concierge-level service

Technology >>> Consumer experience

• Embracing analytics and capitalizing on the value of data
• Keeping up with the rapid pace of innovation
• Guiding the digital journey
• Supporting individuals through self-service enhancements
• Increasing access and acceptance of virtual care

Evolving risks >>> Response

• Mitigating the perfect risk storm
• Addressing gaps in a hardening market
• Smoothing out supply chain disruptions
• Building upon the value of partnerships
• Protecting against cyber risks and system vulnerabilities

Regulatory change >>> Compliance

• Complying with new and changing regulations
• Preparing for compensability challenges
• Guarding privacy under new laws and practices

Trends >>> Transformation

• Adjusting for a post-COVID reality
• Thriving despite economic challenges
• Responding to political shifts
• Focusing on diversity and inclusion

For more on the "Drive to thrive in 2021" list and Sedgwick's industry thought leadership, visit the Sedgwick website and follow the Sedgwick blog Connection at www.sedgwick.com/blog.

About Sedgwick
Sedgwick is a leading global provider of technology-enabled risk, benefits and integrated business solutions. The company provides a broad range of resources tailored to our clients' specific needs in casualty, property, marine, benefits and other lines. At Sedgwick, caring counts^®; through the dedication and expertise of more than 27,000 colleagues across 65 countries, the company takes care of people and organizations by mitigating and reducing risks and losses, promoting health and productivity, protecting brand reputations, and containing costs that can impact the bottom line. Sedgwick's majority shareholder is The Carlyle Group; Stone Point Capital LLC, Caisse de dépôt et placement du Québec (CDPQ), Onex and other management investors are minority shareholders. For more, see sedgwick.com.

SOURCE Sedgwick

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