Cristina Vigilante, Alexander Chao, Laura Biddell, Darrick Cheung, Dennis Dalati, and Rohan Muralee
Even as governments in Asia are gradually and cautiously easing restrictions, the socioeconomic effects of COVID-19 look to be prolonged. Technology and sharing economy players are faced with mixed fortunes as a result of this pandemic.
Supply chain disruptions and the economic downturn mean that both supply and demand for high tech and discretionary consumer products have been impacted. On the other hand, the proliferation of remote working and learning and the need for contact tracing have led to greater demand for new and related hardware and software.
Sharing economy companies involved in mobility, short-term accommodation, and co-working space saw volumes plummet due to lockdowns, but those facilitating food and grocery delivery have experienced the reverse.
To successfully navigate a pandemic, technology and sharing economy players need to develop responses tailored to their business and risk profile. Marsh’s Pandemic Response Cycle tool can help organizations through the key stages of a pandemic: outbreak, growth, disruption, and recovery. In addition, it can help organizations determine effectiveness in: cost savings, employee well-being and productivity, shifting risk profile, and risk management and business enablers.
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