Etana Insurance scenarios: backing SA’s best brokers
The Etana Insurance scenarios seek to filter the complexity we face in our everyday lives by providing four plausible views of the future. These views are based on stories constructed by industry leaders from across South Africa. In developing the scenarios, Etana connected with multiple industry stakeholders, from insurers and brokers to reinsurers and regulatory authorities – not to mention South African thought leaders such as Greg Mills and Clem Sunter.
Three imperatives – “connect”, “share” and “empower” – lie at the heart of the scenarios. “Share” and “empower” embody the current role of the scenarios. This means the scenarios are currently being used in the industry as a tool to empower Etana’s brokers and stakeholders to be proactive strategists in their own futures.
The power of this was recently demonstrated at the Marsh Africa Regional Leadership Indaba in which the Etana Insurance scenarios were used as a tool to prompt strategic thinking about the broader macro-economic environment and the associated challenges that Marsh Africa may face in the future. Greg Scott, Etana’s head of market intelligence and the primary researcher on the scenario project, was invited to deliver the presentation to Marsh Africa’s leadership team. This was followed by an interactive discussion driven by stirring questions on the role of insurers and brokers in shaping the South African insurance landscape. The team also unpacked some of the more imminent threats facing the industry.
The feedback from Marsh was very positive. According to Andrew Panzera, executive leader of operations for Marsh Africa, “the content was spot-on…[The] presentation helped set the scene and the Indaba achieved the objectives [we] set ourselves.”
The scenarios were also showcased at recent Insurance Boot Camps in Cape Town, Durban and Johannesburg.
Approximately 70 000 hours are all that remain between now and 2020 – the time frame for the scenarios. In this time the global population will come close to the 8-billion mark. Population density will approach 45 people per square kilometre, with urban centres like Hong Kong and Singapore reaching densities upwards of 7 000 people per square kilometre. With so much time to consider and so many human variables at play, the social, political and economic environments in which we live and work will become even more complex.
As a means to support our broker community the Etana Insurance scenarios are there to assist in the identification of opportunities and threats in the changing global landscape. To interact with the scenarios and learn more, visit the Etana Insurance scenarios page on our website.
We look forward to engaging with you to help build a future we can be proud of.