With the first COVID-19 vaccines administered in recent days a great sense of relief has swept across the nation, but will there be an immediate return to normality?
As most of us saw in the media, Margaret Keenan, the 91 year old UK grandmother, has become a household name as the first person in the world to be given the Pfizer Covid-19 jab as part of a mass vaccination programme.
Seeing some of the most vulnerable receiving the vaccine and the knowledge that millions of the population will receive the jab by the end of the year, with a full roll out programme promised, we can afford to be optimistic.
There is now a real chance of returning to some sort of normality in 2021, but it’s not likely to be immediate. Those considered to be at a lower risk may have to wait months to receive their vaccination dose.
In reality some aspects of life will return quicker than others. When it comes to trade and commerce, we’ve been able to retain a ‘business as usual’ approach throughout – thanks largely to our heavy investment in digital technology and the commitment of our people to supporting our partners and their customers.
Although we’re still working from home, and likely to do so for some time, access to award winning premium finance solutions are still just seconds away, all made possible by the digital options we offer to transact business. Our investment in technology gives access to our products and services whenever it’s convenient.
This access is important at a time when premium finance is becoming an increasingly popular option to purchase insurance and spread the cost. Throughout the year ahead there will be considerable opportunity to grow your business, using premium finance to help your customers access the insurance cover they need.
Recent research from the Premium Credit Insurance Index indicated that more than half (51%) of SMEs have stopped paying for some types of insurance because of Covid-19. A quarter (26%) have stopped employers’ liability insurance; 23% have stopped business property insurance; 17% in relation to cyber cover to name just a few categories. In personal lines there is a similar story with 19% of consumers having cancelled or cut policies directly as a result of the pandemic.
We look forward to the positive social and economic impact created by a successful vaccine roll out - in the meantime, we will continue to provide full access to award winning premium finance solutions.
If we can help further, please don’t hesitate to make contact.