Smart working in the COVID-19 emergency: A comparative study of the banking and insurance sectors

Abstract

The highly competitive and increasingly dynamic environment in which economic actors are currently operating requires more flexible and resilient organizations, even more so with the widespread of the COVID-19. With the emergence of the Industry 4.0 revolution, many sectors recognize the importance of innovative digital technologies for their activities and are reorganizing their traditional business model also in terms of smart working; others, are still in their infancy. This study explores the potential of smart working solutions to improve collaboration and efficiency in the work environment, by enabling at the same time an improved balance between private and working life. The paper uses secondary data as well as primary data obtained through interviews within the banking and insurance sectors in Italy and in Switzerland. By shedding light on benefits and drawbacks, research findings contribute to the discussion on smart working, which has emerged as a solution in pandemic emergencies but is becoming a new strategic paradigm for a sustainable and resilient organization of work in the future.