IIG News

2024 Outlook

Back in 2019 many future gazers were predicting that the 2020s would be a decade of decadents owing to global growth trends that include low interest rates and record stock market returns.

The 20s have turned out to be nothing like what anyone foresaw and as we enter the mid-20s we can be scarcely confident about any long-term forecasts. In the short-term, however, it is safe to assume that the geopolitical tensions that were a feature of 2023 will continue into 2024. The state of the global and local economy is a topic that will continue to be fretted over throughout the year. Technology and climate change will continue to shape our lives as they did in the last couple of years.

What is perhaps new for this year is the looming spectre of national elections in South Africa. This year’s race promises to be a lot more exciting than previous editions which makes many citizens nervous.

However, despite the angst created by these global and local trends humanity has never been placed to be the architects of their own success story. These uncertainties inherently offer opportunities for those who are brave enough to take the leap. We are also blessed with an unprecedented arsenal of tools with which to exploit these opportunities.

Blockchain and Artificial Intelligence are nascent technologies, and we are only scratching the surface of their potential use cases. The communication tools at our disposal can also serve to accelerate the impact of any discoveries that we make. The key however is to see the opportunities that are hidden among the threats.

This is where the IIG is able to play a role, particularly in the insurance industry. Our activities are designed to link people and organisations to opportunities. Engagement through networking, education and thought leadership are how we activate insurance practitioners to look past the obvious and see the opportunities presented by the changing world.

We have already launched our Class Of and Roots & Wings programmes that focus on emerging leaders in our industry and we will soon be launching our Insights sessions that focus on the cutting edge of developments within our industry. Our Inaugural Dinner this month will also bring together the best talent in our industry into one room and who knows what connections will emerge from that.

2024 promises to be an exciting year for the IIG and we encourage you to link up with us to take hold of the best that the year has to offer.

Article written by: Thabo Twalo