Ageas develops more future-proof, sustainable products as part of its Impact24 strategy
As part of its Impact24 strategy, Ageas established a clear sustainability goal: by 2024, the international insurer wants 25% of its insurance premiums (GWP) to be derived from products that stimulate the transition to a more sustainable world. To get there, Ageas challenged its in-house talents in a new ESG Products Hackathon on 15 and 16 February. “It’s events like these that stimulate our entrepreneurial mindset, passion and our commitment to integrate sustainability into every area of our business” says Gilke Eeckhoudt, Chief Development & Sustainability Officer (CDS0) at Ageas.
From big themes to opportunities and products
Sixty participants, including underwriters, actuaries and product developers from different countries, were divided into nine teams to participate in the two-day challenge to work on five important societal themes: Savings, Well-being, Green Mobility, Sustainability Housing, and Inclusivity.
Participants had to create scalable and sustainable product propositions, generate brand-new concepts, or adapt existing ones for Ageas’s portfolio.
At the end of the Hackathon, during the “Dragons Den”, each team had to deliver their final pitch for feedback and potential commitment from the Members of the Management Committee.
The event, organised by the Ageas Academy is a good example of how the Group wants to boost creativity and a collaborative mindset around the Group. “Not only do we want to do the right thing for our customers and society, it's also great to see our in-house talent so dedicated at work on these themes and expanding their horizons. And that impact will last far beyond these 2 days."” explains Gilke Eeckhoudt.
Committed to creating a better and sustainable future
The Hackathon is one of many initiatives that align with the ambitions set out in Ageas’s Impact24 strategy to go above and beyond.
“Ultimately, we are making choices and investments for the long term, not just the next three years. Initiatives like this Hackathon give our business an extra boost towards our goal to incentivise more sustainable behaviour among our customers. Together we aim to make sustainable choices simple, accessible and affordable. For that, it’s essential that sustainability lies at the very centre of our business model.” says Hans De Cuyper, CEO of Ageas.