Flexibility, agility, resilience, and a universal dash to accelerate and adopt technology have been key learnings across sectors in the two years of the pandemic.
“The last two years have been more like a science fiction movie than anything else," said Swarup Mohanty - Chief Executive Officer at Mirae Asset Investment Managers (India) Pvt. Ltd at the Mint India Investment Summit 2022. “The entire business of asset management stands disrupted as we speak. I think covid is the trigger which starts the incredible journey of financial assets over physical assets. In our industry, there will be a pre covid and post covid period."
Mohanty detailed how the mutual fund sector transitioned to an immediate work-from-home model during the pandemic. Buying and selling of shares and securities was allowed from home with the nod of the regulator.
“The regulator was fleet footed and rose up to the entire challenge. If dealing can go home, then everything can go home," said Mohanty.
The insurance sector saw its customer service, P&L (Profit and loss), balance sheets, deliverables, stressed to the hilt.
“It was also an opportunity as insurance for the first who was seeing a pull, rather than a push," said Ritu Arora - CEO & CIO, ASIA, Allianz Investment Management Singapore Pte Ltd. The CEO of one of the largest insurance firms noted how all its operations were faced by the same challenge that also brought in opportunities of “mammoth proportions".
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