One of the most significant business casualties of Covid-19 is high street retailing. The headlines announcing the latest brands to ‘shut up shop’ appear on what seems like a daily basis. Even over the last week, permanent ‘covid closures’ have included Dorothy Perkins; Burton and Wallis joining wider household names like Debenhams; Top Shop; Miss Selfridges and Oasis, to name just a few. All have sadly lost their high street presence. With a rapid switch to online, retailing supporting industries have had to adapt, but what will the impact be for the insurance industry?

Last year every employee at Premium Credit contributed to the refreshing of our Purpose and Values through an engagement process that lasted five months. But why is Purpose receiving so much attention? What does something so simple do for a business and the people working in it? And how does our Purpose not just become another marketing strapline? Simply put, Purpose is your ‘why’. The answer to this simple question is the core of any successful business. It is not the preserve of the board or the strategy team, it is part of every role and every colleague.

It’s been a week of contrasts, with great sadness and optimism in equal measure. As the nation mourns the loss of Captain Sir Tom Moore, the war veteran who united the country during lockdown with his heroic fundraising efforts for the NHS, we also celebrate a landmark figure as over 10 million UK residents have now received the first vaccination jab.

As we recognise the anniversary of Britain’s first Covid-19 cases, it’s a time to reflect on how much has changed on both a personal and commercial level. In a broker context, the insurance needs of customers, both personal and commercial lines, have changed significantly as life has been transformed by the pandemic. New types and levels of insurance are now required, providing opportunity for brokers and all of us servicing the insurance industry.

Quite simply, the changes we all faced in 2020 were momentous, reshaping the world for consumers and businesses, and it looks like 3 specific trends are set to continue into 2021:

The first confirmed UK cases of coronavirus were recorded on this day, January 29, 2020 in York. Who could have foreseen the social and economic impact the virus would have on the entire country, one year on? Many insurance covers, as per their design, have provided valuable protection for thousands of people during this last year, acting as an ‘economic enabler’ and will continue to provide well-being for businesses and individuals as the economy recovers