Introduction
The Etana Scenarios are a product of the Etana values: Make it happen, Grow, Be Open, Give and Know. These values form part of Etana’s commitment, as a corporate citizen, to good corporate governance and a greater responsibility to the insurance industry and South Africa.
The Etana Scenarios are not predications about the future, the scenarios are rather plausible outcomes based on current and future global trends and events. This initiative serves to empower Etana, and the broader South African business and insurance community, to cope with a number of alternative eventualities. The Etana Scenarios will continue to be an evolving project which will seek to continuously monitor the risks and trends that emerged during the course of the scenario exercise.
The scenarios stories will remain unchanged to 2020 to serve as reminders of how complex the insurance landscape is. However, the emergent risks and trends present in the scenario stories will be discussed and researched on an on-going basis through a combination of dedicated research and insight from industry experts.
To keep the scenarios relevant through stimulating debate, various Etanans and members of our broader community will regularly unpack and discuss a risk or trend in the 2013 insurance landscape – from systemic and political risk to inequality and climate change. These topics and discussions aim to promote engagement with industry stakeholders and Etanans – establishing a tangible outlet to discuss and debate emergent complexity as each of the Etana Scenario stories unfolds to 2020.
This project is part of a broader Etana strategy to become a primary source of engagement and dialogue within South Africa and the insurance industry through multiple channels, be it via social media, the Etana Academy or web forums such as this.
To collaborate, comment or suggest a risk/trend for discussion please email the Etana Scenario Risk Forum project co-ordinator, Greg Scott at gregorysc@etana.co.za, or interact with Etana via our various social networks.
How do we capitalise on Western economies shifting their attention to the BRICS? Furthermore how do we promote trade within the BRICS?
It is unlikely that only one of these scenarios will unfold. But elements within each scenario are plausible and a combination of them is potentially likely. As we read these scenarios, what themes emerge? What questions can we ask ourselves as we drive towards being the best?
1. Is Africa the new frontier for opportunities? As western powerhouses shift their attention the BRIC nations how do we capitalise?
2. Is an integrated approach to public-private partnership required to solve the socio-economic problems that impact on the sustainability of insurance, such as urbanisation? What would that look like and how do we position our business model to best allow that integration?
3. To manage risk more effectively, what do we need to know about climate change? How do we strengthen our research in order to lead the pack in terms of understanding the impact of climate change?
4. Is data the new crude oil? How do we take that information and refine it to provide a competitive advantage?
