Insurers exsist to make things possible. Because we know, manage and share risks, our customers can participate in (social) traffic, business, living and travelling. We do this by organising solidarity: the core of our work. In the current era, this is more relevant than ever. Because risks and uncertainties are increasing and new challenges are emerging that require an (insurance) solution. Think of new climate risks, the energy transition, the tightness in the labour market, an ageing population and systemic changes in the field of social security.
We also have to deal with significant geopolitical tensions that we have to deal with as a society. In the meantime, new technological possibilities, such as generative AI, are following each other in rapid succession. These techniques bring unprecedented opportunities, but also new risks that can put pressure on solidarity. Customers are becoming more assertive, have higher demands and are more likely to make a fist from partnerships (through the courts). Laws and regulations from governments are also constantly increasing.
By working together with the government and other organisations, can we improve the resilience of our customers and the sector and increase livelihoods in society and of citizens? Can we on our own, or together with others, offer solutions to unruly issues such as the increasing damage caused by climate change and the bottlenecks in the labour market? How do we implement new technology so that customer service improves and at the same time everyone, including vulnerable groups, can take out insurance? Access to more and more data also entails the risk that insurability will decrease because we can price risks more individually. We want to prevent that. The digital revolution also requires resilience and protection of customers and insurers against cybercrime.
It puts these three core elements of the sector – trust, connection and collaboration – in a new light:
Trust in institutions is under pressure. This places high demands on the actions of insurers. It is important not only to be alert to the expectations we raise, but also to live up to them. Sustainability, empathy and ethics are at the heart of our actions. The sector can strengthen trust, but it can also lose it, for example when using powerful new technology.
We are there for customers regardless of their background, origin and beliefs and can therefore share their risks. We ensure that the use of data makes it more difficult for vulnerable groups to take out insurance. This commitment to inclusiveness is also reflected in personnel policy: insurers are ambitious in the field of (gender) diversity.
The sector is a constructive partner in adapting to new circumstances and risks. More than ever, it is the task of insurers to think in terms of solutions, for example by making visible what can be prevented through prevention in many areas, such as in traffic and in preventing fires. This sometimes entails dilemmas, which we can only overcome in cooperation with others. For example, sharing information about cyber risks and new technology is more important than ever. But this can be at odds with market forces when it comes to product development.
The sector has already taken significant steps in recent years. We want to build on that: for example, the insurability of former cancer patients has improved. We are also working to improve access to income and life insurance for people with chronic illnesses. In addition, the sector works with an ethical framework for the responsible use of data applications. We can further increase our clout by joining forces more often than we do now with knowledge parties that commit to the Association through partnerships and by working together in the chain with independent financial advisers. For example, we are working with governments and NGOs on the impact on ICSR processes and on an approach to quickly deal with damage caused by flooding of rivers and the sea. To increase the resilience of consumers, we are exploring the possibility of new initiatives with AFM, Adfiz, NVB and other stakeholders.