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Client Success Story

Anticipating the future of insurance

Ageas Group challenges itself and the insurance industry to integrate long-term strategic thinking into its DNA. Trensition plays a crucial role in detecting and prioritising trends, including delivering strategic suggestions.

Case: Ageas Group
Sector: insurance
Number of employees: +40.000

“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.”

Hans Decuyper, CEO, Ageas Group

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 constantly changing world? How can long-term thinking become part of the DNA of your organisation? And how can AI help?

Strategic Question

What will be the role of an insurance company in 10 to 15 years?

Objectives

  Which trends will impact the insurance industry positively or negatively?

  Where should we invest as an insurance group?

  Which scenarios have the best chance of success?

  Where exactly are there growth opportunities?

  What challenges and risks are ahead of us?

Challenge

Thinking and acting ahead is difficult in this fast-changing and complex world dominated by uncertainties. Ageas Insurance Group, operating in Europe and Asia, recognises that they must anticipate change to stay relevant. They want to continuously reinvent themselves and the insurance industry by anticipating trends and acting proactively. That is no mean feat for a company operating in 14 countries
with over 40,000 employees.

“Trensition positively challenges us. They do not replace the expertise of our people but raise it to a higher level. Moreover, they objectify our way of thinking so that we look into the future more confidently and better prepared, knowing where and when to take action.”

Gilke Eeckhoudt, Chief Development & Sustainability Officer

Solution

Think 2030, the internal think tank set up by Ageas Group, thinks about how the world will look like in 2030. By monitoring the evolution of trends linked to 10 themes that have an impact on the insurance sector, they determine the strategic direction of the organisation:

Future of work
Consumer behaviour change
Future of banking & financial services
Societal & health evolution
Environment
World economy
World politics & regulation
Demographic evolution
Technology & data
Mobility & urbanisation

Initially, the entire trend tracking process and analysis relied solely on internal human expertise and judgement. Since the partnership with Trensition, which started in 2019, that approach has been enriched with 100% AI-driven trend insights based on our Trendtracker platform.
Within the cluster of 10 trend themes, Trendtracker, based on AI-driven technology, continuously monitors 148 trends that could potentially impact Ageas. Simultaneously +1,500 employees worldwide are surveyed. Their expertise and knowledge indicate when and how impactful they think specific trends will be. This process is fully automated into a tailored online platform that
is used by Ageas’ employees worldwide working in strategy, innovation, risk, market intelligence, digital, development, etc.

“Trensition positively challenges us. They do not replace the expertise of our people but raise it to a higher level. Moreover, they objectify our way of thinking so that we look into the future more confidently and better prepared, knowing where and when to take action.”

Gilke Eeckhoudt, Chief Development & Sustainability Officer

Impact

Besides mapping the AI-driven insights, Trensition is also in charge of putting them into perspective to human judgement. Both come together in a statistical model. We assign each trend to one of the five categories based on the results. This output forms the basis for drawing up various scenarios with which Ageas intends to arm itself for the future.

In short, a unique man-meets-machine combo helps Ageas Group set priorities in their long-term strategic action plan.

“I don’t think AI will ever replace strategy functions: AI is augmentative intelligence, which complements human brainpower in accessing, processing and analysing data in an unprecedented way. Here is where the value of our partnership with Trensition is positioned in our Group.”

Ernesto Zaccaria, Strategy Manager, Ageas Group

Get started on your trend intelligence journey.

Book a meeting with our

experts

 

Discover how you can get a substantial competitive advantage thanks to our AI-driven strategic intelligence platform Trendtracker. Complete the form to book your free demo

Our Trensition experts will:

  Give you a hands-on demonstration of Trendtracker

  Share how we enable you to monitor trends

  Discuss your business needs

 

 

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