Ageas Unveils Ambitious Elevate27 Strategy for Future Growth
Ageas Unveils Ambitious Elevate27 Strategy for Future Growth
Ageas has officially introduced its strategic plan, Elevate27, which will span the years 2025 to 2027. This initiative is designed to elevate the Group’s existing success by building upon its strong growth history and unique market position. Elevate27 is more than just a roadmap; it represents a commitment to achieve sustainable and profitable growth, addressing the evolving needs of an ageing population and small to medium enterprises (SMEs).
Key Objectives of the Elevate27 Plan
The essence of Elevate27 is to enhance Ageas’s leadership in technical insurance and operational excellence. This plan intends to improve distribution capabilities for better customer interaction and to enrich the overall customer experience. Hans De Cuyper, CEO of Ageas, emphasized the necessity of agility in today’s fast-paced world, highlighting the importance of asking whether the company can continually enhance its service offering.
Strategic Focus Points
Elevate27’s framework is built on three primary strategic drivers: driving profitable growth, leading in technical insurance, and operational excellence. By honing in on these areas, Ageas plans to leverage its strengths effectively and create additional value for all stakeholders. A vital part of this strategy is the commitment to people, technology, data, and artificial intelligence, ensuring that the group remains at the forefront of not only the industry but also the technological landscape.
Growth Targets and Commitments
As Ageas transitions from its prior Impact24 strategy, it is clear that the foundation laid will support the ambitions of Elevate27. The commitment includes financial targets for dramatic advancement in earnings per share growth, anticipated between 6% to 8% by 2027, and maintaining a healthy cash flow of over EUR 2.2 billion. Additionally, shareholder remuneration is set to surpass EUR 1.9 billion, highlighting the company’s dedication to returning value to its investors.
Commitments to Stakeholders
The Elevate27 strategy outlines a comprehensive set of goals aimed not only at improving financial performance but also at enriching the customer, employee, and societal experience. Ageas aims to achieve top quartile Net Promoter Scores (NPS) through enhanced customer engagement and service offerings. For employees, the goal is to foster an environment recognized as a great place to grow, with specific targets regarding employee satisfaction and gender diversity in leadership roles.
Technological Integration and Digital Transformation
Within its innovative approach, Ageas emphasizes significant advancements in technology and artificial intelligence. It recognizes that the future of its services will rely heavily on efficient and effective use of data and AI technologies, enhancing its ability to serve customers and improve overall operations. This transformation will not only streamline processes but also make insurance more accessible and tailored to individual needs.
Commitment to Sustainability
As part of Elevate27, Ageas also reinforces its commitment to sustainability and long-term responsible business practices. The company aims to ensure that over 35% of its gross written premiums (GWP) come from products that support sustainable initiatives. With a strong track record in ESG (Environmental, Social, and Governance) areas, Ageas is dedicated to transparency and accountability in its operations.
Anticipated Impact of Elevate27
Through Elevate27, Ageas intends to solidify its market presence while tackling modern challenges such as demographic shifts and evolving consumer expectations. By focusing on productive partnerships and harnessing digital sales platforms, Ageas aims to broaden its customer base and deliver unparalleled service.
Conclusion: The Road Ahead
As Ageas embarks on this transformative journey, the outlook remains optimistic. The Elevate27 strategy signals a proactive step toward ensuring that Ageas does not merely adapt to changes in the marketplace but leads with innovation and integrity.
Frequently Asked Questions
1. What is the primary focus of the Elevate27 strategy?
The Elevate27 strategy focuses on driving profitable growth, leading in technical insurance, and enhancing operational excellence while ensuring a superior customer experience.
2. What are Ageas’s targets for earnings per share growth?
Ageas aims for an average earnings per share growth of 6% to 8% by the end of 2027.
3. How will technology play a role in Ageas’s future?
Technology, particularly data and AI, will be integral to Ageas’s plans, enhancing service delivery and operational efficiency.
4. What commitments does Ageas have for its employees?
Ageas is committed to creating a great workplace, targeting a top quartile employee NPS and increasing the proportion of women in management roles to 40%.
5. How does Elevate27 align with sustainability efforts?
Elevate27 emphasizes sustainability, aiming for over 35% of GWP from products that promote a more sustainable and inclusive world.
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