In August, much to the surprise of their own governments, economic data suggested that France, Germany and Japan had exited the recession. Similar good news has yet to be heard in the other major countries, but Celent’s recent research about perceptions and attitudes of insurers in this recession shows that there is increased optimism in the world of insurance.
Over the course of the first half of the year, insurers have made more progress in implementing tactical responses to the current recession. Around 80% have already, or are in process of, freezing discretionary spend and travel. Two-thirds are in the process of, or already have, cut staff salaries. But these tactical responses dont inspire much faith.
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