Resilience Is The Key For Leaders In Professional Services Firms

Atlantic Hurricane Season could officially start in May soon

For the past six hurricane seasons, named storms have formed before June 1. Now the World Meteorological Organization and the National Hurricane Center consider moving the official start from June 1 to May 15.

While hurricanes can form at any time of the year, June through November encompasses the overwhelming majority of tropical storm development. But why are storms forming earlier and sparking this conversation? One, satellite technology is far superior to decades ago, meaning we can identify storms we couldn’t have decades ago. Second is something called multi-decadal oscillation, and all that means is waters naturally change from cooler to warmer every 25 to 40 years. We’ve been in the warm period since 1995.

“Before 1995, in the 70s and 80s, we were really low; it wasn’t that active,” says National Weather Service meteorologist Daniel Noah.  Third, climate change can warm the waters further…

Building resilience in uncertain times

After a year in which companies were naturally forced to be reactive, companies increasingly have breathing room to allow new opportunities to take centre stage once more. The pandemic has accelerated digital transformation, in part driven by increasing customer acceptance. We are really excited about the opportunities for insurance companies to make better use of a more ‘digital-first’ perspective.

As companies come to terms with the practical challenges of implementing operational resilience, more have begun conducting pilot exercises to build confidence in the effectiveness of their approach, enabling them to test, learn and embed.

However, the industry has a patchy record on delivering transformation, and before the pandemic, most operational failures and adverse customer impacts were caused by companies’ own change initiatives…

Resilience Is The Key For Leaders In Professional Services Firms

The U.K.’s Chancellor of the Exchequer, Rishi Sunak, delivers his Budget on Wednesday. (Photo by … [+]
 
AFP VIA GETTY IMAGES

Most attention during the pandemic has — understandably — focused on the death toll and hospitalizations of those hit by the virus. News outlets have also detailed the economic cost, which in the U.K. will likely be laid bare in the Budget on Wednesday, stemming to a large extent from supporting those who have been unable to work from home.

However, it needs to be remembered that — while not entirely immune from the effects of the disease — people forced to work from home have had problems of their own. True, these may pale besides sickness and a lack of money. But they are real all the same. As Tom Lavin, director of marketing operations in the London office of the global law firm White & Case, pointed out, people “were, if anything, busier” than before the pandemic. Being thrown into a way of working that many were not familiar with had led some to become frustrated that they were not performing at their best…

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