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When the pandemic struck in 2020, Chubb and legal partner Kennedys produced a series of reports  exploring the impact it was having on the life science industry through the lenses of clinical trials, medical devices, telehealth, genomics and the supply chain.

Looking back at the past two years, the industry has, by and large, proved successful at managing the most significant risks faced. It has also demonstrated its capabilities during an extraordinary time; producing vaccines at record speed and rapidly delivering solutions – from telehealth to medical devices and genomic surveillance – that have helped us through this difficult period. Now the life science sector is building on that foundation to improve healthcare and preparedness for future pandemics, while continuing to battle COVID-19.

 

Read “The new normal in life science” report for insights on how those changes played out in the medium term. Which innovations have become part of the new normal and where did things go wrong? From the new strength and capacity that has been built in telehealth and clinical trials, to the lessons that have been learnt for future pandemics on medical devices and supply chains.

Key takeaways

  • Supply chain visibility is now a key focus at c-level, enabled by technology.
  • Decentralised trials could be here to stay but decentralising patient recruitment is still a way off.
  • Genomic research still has a lot more to offer during this pandemic.
  • Research needs to be more inclusive to ensure the benefits of genomics are enjoyed by all.
  • Fostering innovation in the context of remote working is the next challenge.

The New Normal in Life Science

 

Read more reports in the ‘Life Science in the era of pandemics’ series:

Lessons from the Supply Chain
Emerging Risks in COVID-19 Clinical Trials
Making Medical Devices During a Pandemic
Fighting COVID-19 with genomics
The Great Telehealth Experiment

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No part of this article may be reproduced in any written, electronic, recording, or printed form without written permission of Chubb.

Disclaimer - The contents of this report are for illustrative purposes only and not intended to be an offer or solicitation of insurance products. You should read the policy documents to determine whether any of the insurance products discussed are right for you or your business, noting different limits, exclusions, terms and conditions apply in each country or territory, and not all cover is available in all countries or territories. This document should not be relied on for legal advice or policy coverage and cannot be viewed as a substitute to obtaining proper legal or other professional advice, or for reading the policy documents.

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Grace Fung
Head of Industry Practices
Technology, Life Science, Clean Energy & Entertainment
Grace.fung@chubb.com