The World Economic Forum – an international institution for public private cooperation –organises every year in Davos a global event aimed at offering an overview of the main trends and challenges for the global economy. Government representatives, institutional figures, CEOs and leaders from all over the world gather there to discuss and set the imperatives of the year that has just begun and that we have ahead of us. Davos represents an opportunity to learn and reflect on our business as well as on the challenges we face every day in our work.
This year the event took place virtually and included a series of online plenaries and meetings on multiple themes, – from the consequences of the pandemic to climate change, up to the opportunities offered by the “unstoppable” innovations in technology. The choice of hosting the summit virtually actually made it more accessible, with those who could not have been in Switzerland at that time of the year still being able to participate.
I attended some of the virtual panels of the global summit, and I found four sessions particularly interesting. Let’s explore together my takeaways from those.
The session regardingTechnology cooperation in the Fourth Industrial Revolution analysed the themes of technology cooperation and digital accessibility, which are very relevant topics for the insurance sector. As explained by the many experts who took part in the panel, the key to digital inclusion is creating an ecosystem where companies, governments and regulators work together in what was defined as a “cross-sector effort”. As distrust in institutions grows, the role of corporates and in particular Insurers, becomes prevailing.
This idea of the public and private sectors collaboration was addressed also during the Accelerating and Scaling Up Climate Innovation session. When it comes to climate change, innovation plays an important role, and leaders in the financial services sector have to and can make daring choices in order to bring sustainable thinking at the centre of their decision making. Insurers as investors have a key role and have embedded Climate impact into their investment criteria.
The panel ESG Metrics for a Sustainable Future highlighted the importance of measuring sustainability and companies’ actions in relation to ESG principles. The concept that struck me the most in this panel is how companies that embrace sustainability are also more profitable across every sector. This means that companies that adopt real and tangible measurements when it comes to ESG and sustainability, are not only acting in a responsible way, but are also gaining short-term competitiveness.
Finally, I found the panel Live from Space: The Next Frontier for Knowledge and Action really exciting. It was incredibly interesting to listen to the astronaut Matthias Maurer speaking directly from the International Space Station and to see how experts across different industries are researching new ways to use space technology and find in space the answer to tackle issues here on Earth. Thinking “outside the box” and seeing things from angles that seem far from our usual perspective can be the key to meeting the challenges we face in our everyday work.
At RGI we strongly believe in the values and civilisation trends addressed in the sessions and across the whole digital summit, from the power of innovation and technology to the imperative of sustainability. Partnering with different players, especially with the private and public sector, is part of the RGI DNA, with a focus on school and universities as well as research centres and associations, not only to sustain our company’s growth but also to fulfil our purpose as a company. Innovation and sustainability are strongly linked to one another, and I deeply believe that our actions and business model must be shaped to serve both our clients and society.