Learn how we tackle Ageas’ Group challenges
Our unique data-driven, technology-powered approach creates the trusted, actionable, and forward-looking intelligence you need to make faster, more informed decisions.
Who is Ageas Group
Ageas is a listed international insurance Group with a heritage spanning almost 200 years, offering customized Life and Non-Life insurance products to retail and business customers.
As one of Europe’s larger insurance companies, Ageas concentrates its activities in Europe and Asia, which together make up a major part of the global insurance market. It successfully operates insurance businesses in fourteen countries (Belgium, the UK, France, Portugal, Turkey, China, Malaysia, India, Thailand, Vietnam, Laos, Cambodia, Singapore, and the Philippines) through a combination of wholly owned subsidiaries and long term partnerships with strong financial institutions and key distributors. Today, Ageas ranks among the market leaders in all countries in which it is present. It represents a workforce of over 45,000 people and reported annual inflows close to EUR 36 billion in 2019.
Listen to the Ageas Studio 2030 podcast
Our CEO, Vincent Defour and Hans De Cuyper, CEO of Ageas discuss the importance of long-term thinking. How can (and should) we plan ahead in a world that is constantly changing? How can long term thinking become part of the DNA of your organisation? And how can AI help?
Strategic challenge
In a rapidly changing and an increasingly complex world full of uncertainties, it is a huge challenge for insurers to develop a mid- or long-term strategy. Consequently, they need to be able to estimate what the world will look like ten to fifteen years from now and what role insurance companies will play by then.
Even though the insurance industry is still often perceived as less dynamic compared to other industries, insurance companies are not the conservative institutions that some think they are. Insurers continuously find themselves at crossroads where they need to decide which path to take, based on identified opportunities in the future and the role they want to play in the lives of their customers. An insurance company can either carry on doing what it does today, ignoring the potential for disrupting the industry, at the risk of being marginalized or at worst deemed no longer relevant. Or an insurance company can recognize that under all possible scenarios, action needs to be taken today to ensure that they keep pace and stay relevant to the world and their customers of tomorrow.
The first option is clearly not an option at all. It is also the reason why Ageas thinks about life in 2030. Why 2030 you ask? It is still far enough away to allow scientific and technological advances to mature to the stage where they will likely transform our lives, but close enough to provide a sense of urgency to act. This timeline also forces Ageas to confront the future and reflect on what needs to be done today to ensure it is fit for purpose tomorrow. Regardless of how one sees insurance evolving and how the role of an insurer is ultimately defined, one thing is clear, the time to think 2030 and to act is now.
Partners
To support future strategic decision-making on different levels (risk strategy, business development, operations and local strategies), Ageas has created a 2030 Think Tank with experts from within the company. The Think Tank periodically analyses the following ten megatrends that directly impact the insurance industry: the future of work, the future of banking and financial services, society, environment, world economy, world politics, demographics, technology & science, mobility and evolutions in customer behaviour.
Since May 2019, the Ageas Strategy Team further enhanced its methodology by extending human-based judgements and opinions with the 100% data-driven trend insights and foresights provided by Trensition. The collaboration with Trensition not only helps Ageas to challenge its existing methodology, but also introduced a AI-driven view on trend and foresight management that is aligned with the specific business context of the organization.
We all need to be challenged in the right way and that is an important part of the role Trensition plays. They don’t replace human creativity and the analytic work that happens naturally inside the company, but they augment and objectify our thinking and ability to define actions and next steps. We gained a much more confident picture of Ageas’s preparedness for the future – and where to act and when. And their enthusiasm and hands on style of working makes the process exciting and productive always.
We need to plan ahead in a world that is constantly changing.
Long-term strategic thinking has become part of the DNA of our organisation.
The Artificial Intelligence of Trensition helps us more and more in our decision-making.
The Trendtracker strategic analytics platform is a good guide to help us to give direction in that ever growing maze of options and complexity.
Collaboration
Trensition continuosly monitors a set of 150 possible impactful trends using our leading strategic intelligence platfrom Trendtracker.
In paralel we periodically survey +/- 1200 Ageas employees worldwide.
Subsequently, we compare, analyze and visualize the results of both the human and machine scoring. This resulted in a comprehensive online trend Radar that, for each considered trends, provides detailed insights and foresights, considering the specific business context of Ageas (insurance sector and all its subsectors, regions in which Ageas is active, Ageas competitors, …).
Twice a year an intensive two-day future thinking event is held with the 2030 Think Tank to discuss the results, reflect on possible future actions for each phenomenon, and subject the time-consuming, human-based methodology to a critical evaluation.
Next to that our Trend analysts continuously support Ageas Strategy team with strategic deep dives supported by the trendtracker technology to analyse specific events.
Our Added value
Predict & Align with Future Trends
Decode your future by uncovering the global ‘Big Picture’ and scouting emerging trends with tailored indicators, forward-looking thematic analysis, and strategic action insights from leading industry analysts and thought-leaders.
Uncover and analyse consumer dynamics with our detailed regional consumer trend insights, helping you gain a deeper understanding of consumer behavior and how trends are impacting or your your clients.
We help you understand the disruptive technologies impacting your sector, so you can prioritize your technology investments and find the right strategic partners to access the capabilities you need.
Identify, evaluate, and respond to competitors and emerging disruptors with real-time monitoring and insight into their strategic actions, R&D strategies, products and M&A activities.
Some of the themes we continuously monitor for Ageas
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