When COVID-19 hit, the insurance industry faced a perfect storm, skyrocketing health claims, business interruptions, and a sudden need for adaptable coverage. While many insurers scrambled, a few stood out for their foresight, resilience, and innovation. These companies didn’t just survive the pandemic; they thrived by anticipating risks, embracing digital transformation, and putting customers first.

From AI-driven underwriting to pandemic-specific policies, here are five insurance giants that were ahead of the curve, and what other companies can learn from them.

1. Lemonade

While traditional insurers were buried in claims, Lemonade’s AI-powered model kept things running smoothly. The company used machine learning to automate underwriting and claims processing, reducing human contact and speeding up payouts. Their behavioral economics approach, donating leftover premiums to charity, also built trust during a time when people were skeptical of big corporations.

Key Pandemic Moves:

  • Instant claims processing via AI (some payouts in seconds).
  • Expanded mental health coverage as anxiety and depression surged.
  • Offered premium flexibility for customers facing financial hardship.

Lesson: Digital-first models aren’t just convenient, they’re crisis-proof.

2. Ping An

Ping An was already a leader in insurtech before COVID-19, but the pandemic proved the value of its ecosystem. The Chinese giant used big data, AI, and telemedicine to keep services running seamlessly. Their Good Doctor app saw a 900% surge in users as people avoided hospitals, proving the power of integrated health and insurance tech.

Key Pandemic Moves:

  • AI-powered health consultations reduced strain on hospitals.
  • Contactless claims via facial recognition and blockchain.
  • Aggressive digital adoption in underwriting and customer service.

Lesson: Investing in tech before a crisis pays off when disaster strikes.

3. Allianz

Allianz’s global reach and risk modeling expertise helped it navigate the pandemic better than most. The company quickly adjusted pricing models for business interruption and travel insurance while supporting customers with deferred payments. Their research arm also provided real-time insights on pandemic risks, helping businesses adapt.

Key Pandemic Moves:

  • Pivoted to parametric insurance (automated payouts for predefined triggers like lockdowns).
  • Launched pandemic-specific business coverage for SMEs.
  • Expanded cyber insurance as remote work increased hacking risks.

Lesson: Real-time data and flexible products are critical in fast-moving crises.

4. Aflac

Aflac’s focus on supplemental insurance (like hospital cash benefits) became a lifeline for policyholders facing medical bills and lost income. The company streamlined claims, waived waiting periods for COVID-related illnesses, and even offered free telehealth services.

Key Pandemic Moves:

  • Fast-tracked COVID claims with minimal documentation.
  • Added coverage for testing and quarantine costs.
  • Partnered with employers to offer enhanced benefits for frontline workers.

Lesson: Niche coverage can become essential in a crisis, if you adapt quickly.

5. Zurich

Zurich stood out for its proactive support of corporate clients, offering risk assessments, crisis management tools, and even mental health resources for employees. The company also led the way in clarifying policy language around pandemic-related business interruptions, reducing disputes.

Key Pandemic Moves:

  • Developed resilience guides for businesses navigating lockdowns.
  • Advocated for clearer BI policy wording to avoid disputes.
  • Invested in parametric solutions for future pandemic risks.

Lesson: Transparency and client education build long-term loyalty.

What These Insurers Did Right

  • Embraced digital transformation early (AI, blockchain, telemedicine).
  • Prioritized customer trust with flexible policies and fast payouts.
  • Anticipated emerging risks (cyber threats, mental health, BI disputes).
  • Used data dynamically to adjust pricing and coverage in real time.

The pandemic wasn’t just a stress test, it was a wake-up call for an industry built on assessing risk yet often slow to adapt to it. While these five insurers demonstrated remarkable resilience, their success stories reveal a fundamental truth: the old insurance playbook is obsolete. In an era of climate disasters, cyber pandemics, and global health threats, the difference between thriving and merely surviving will come down to three critical shifts.

From Reactive to Predictive Protection

The most successful insurers didn’t just weather the storm, they saw it coming. Ping An’s AI health platform and Zurich’s parametric insurance products represent a new paradigm where sensors, real-time data, and machine learning don’t just process claims but prevent losses. The next frontier lies in policies that automatically adjust coverage limits when hurricane paths shift or cyberattack patterns emerge, turning insurance from a financial backstop into an active risk management partner.

From Paperwork to Partnership

Lemonade’s 3-second claims and Aflac’s waived waiting periods proved that empathy can be scalable. In future crises, the insurers who’ll earn customer loyalty will be those offering not just payouts but solutions, think embedded mental health support when wildfires trigger anxiety claims, or supply chain rerouting services when geopolitical conflicts disrupt shipments. The most valuable policies won’t live in filing cabinets but in the daily workflows of those they protect.

From Silos to Ecosystems

Allianz’s business continuity tools and Ping An’s telemedicine integration point toward a future where insurance isn’t a standalone product but part of an interconnected safety net. Imagine car insurers partnering with smart cities to prevent accidents before they happen, or health insurers working with wearable makers to turn fitness data into premium discounts. In this model, risk mitigation becomes a shared endeavor, with insurers serving as the connective tissue between individuals, businesses, and communities.

The pandemic made one reality inescapable: the shocks will keep coming. For insurers, the choice isn’t whether to change but how fast. Those who embrace this moment not as a temporary disruption but as the new normal won’t just survive the next crisis, they’ll redefine what protection means in the 21st century.