In 2021 we outlined the Group’s roadmap for the years to come: Impact24.
In 2021 we outlined the Group’s roadmap for the years to come: Impact24. The strategic plan is built on a solid foundation from the past. It is based on what we do well today and considers future trends likely to impact our world, not only by 2024, but even by 2030 and beyond.
Impact24 aims to unlock the full potential of our existing core business. There is still room to grow by further empowering our local businesses in exploring their full market potential and enhancing their distribution power. Our plan starts and ends with the customer. We will deploy technology and data to make the customer experience even better. And along the way we will explore opportunities to improve our efficiency and our distribution and commercial excellence.
Impact24 allows us to explore new opportunities for growth within the Protection space. We will continue to invest in our traditional distribution channels whilst investing also in new partnerships that allow us to participate in digital platforms and ecosystems that reach our customers in new ways. The development of Health ecosystems will be on our radar as we scale up innovation and transfer knowledge across the Group. We will also explore a deeper engagement in our Reinsurance activities building on our partnership with Taiping Reinsurance.
Our M&A approach will reflect this priority with a clear preference for opportunities in Non-Life, Health or Life protection. At the same time, we continue to look at entering an additional majority-owned entity in Europe with a view to maintaining a diversified and well-balanced portfolio across Europe and Asia. And we will also explore partnerships that enable new sources of growth in digital transformation and digital platforms.
And that word ‘sustainable’ really matters. It is the reason we are putting sustainability at the heart of everything we do. Ageas has almost 200 years of history behind it and wants to remain relevant for all its stakeholders for decades to come. This commitment takes many forms from offering customers transparent products and services that help them transition towards a more sustainable world, to the choices we make about where and in what we invest, contributing to solutions around sustainable cities, local economies, and climate change. On the inside we have made a strong commitment to the reduction in our own environmental footprint, with the aim to be GHG-neutral.
Impact24 is a sustainable Growth strategy for the Group and for its people. We want to be considered a Great place to Grow for our employees and be an inspiring and inclusive employer in the markets in which we operate across all sectors and all demographics.
The Impact24 plan was the result of an intense collaboration of more than 100 Ageas professionals bringing together different expertise and a good mix of local and corporate based colleagues. Our Think 2030 trends analysis served as a backbone of the plan. Each of our strategic choices is interrelated, and we are holding ourselves fully accountable through clear KPI’s and targets, allowing us to track our Group’s progress in a disciplined way.The non-financial and sustainability targets strengthen our commitment to create both economic and societal value, which go hand in hand.
Find out more about our new strategic plan on our dedicated Impact24 website.