Ageas Launches Ambitious Elevate27 Strategy for Future Growth
Ageas has officially unveiled its strategic initiative, Elevate27, which will guide the company from 2025 to 2027. This plan aims to build on the Group’s solid growth record and unique position in the market. Elevate27 isn’t just a blueprint; it reflects a commitment to achieving sustainable and profitable growth while responding to the changing needs of an ageing population and small to medium enterprises (SMEs).
Main Goals of the Elevate27 Initiative
The core of Elevate27 is to strengthen Ageas’s leadership in technical insurance and ensure operational excellence. The plan aims to enhance distribution capabilities for better interactions with customers, ultimately enriching their overall experience. Hans De Cuyper, the CEO of Ageas, stressed the importance of agility in our fast-paced world, highlighting the necessity of continuously improving service offerings.
Strategic Focus Areas
The framework of Elevate27 hinges on three main strategic drivers: fostering profitable growth, leading in technical insurance, and achieving operational excellence. By focusing on these areas, Ageas intends to effectively utilize its strengths and generate additional value for all stakeholders. Central to this strategy is a commitment to investing in people, technology, data, and artificial intelligence, ensuring that the company stays at the forefront of the industry and the technological environment.
Growth Goals and Commitments
Transitioning from its previous Impact24 strategy, Ageas lays a solid foundation to support the objectives of Elevate27. The company has set financial targets aimed at increasing earnings per share by 6% to 8% by 2027 and maintaining a robust cash flow exceeding EUR 2.2 billion. Furthermore, shareholder returns are projected to surpass EUR 1.9 billion, demonstrating Ageas's commitment to delivering value to its investors.
Commitments to Stakeholders
Elevate27 outlines an array of goals designed not only to boost financial performance but also to enhance the experiences of customers, employees, and society as a whole. Ageas aims to reach top-quartile Net Promoter Scores (NPS) by improving customer engagement and service offerings. For its employees, the company aspires to cultivate an environment recognized for its potential for growth, with specific goals focused on employee satisfaction and increasing gender diversity in leadership positions.
Integration of Technology and Digital Transformation
Ageas’s innovative approach places a strong emphasis on advancements in technology and artificial intelligence. The company understands that the future of its services will depend heavily on effectively using data and AI technologies, thereby enhancing its ability to serve customers and improve operations. Such transformation will streamline processes and make insurance more accessible and tailored to individual needs.
Commitment to Sustainability
As part of Elevate27, Ageas reaffirms its dedication to sustainability and responsible business practices. The company aims for over 35% of its gross written premiums (GWP) to derive from products that support sustainable initiatives. With a proven track record in Environmental, Social, and Governance (ESG) matters, Ageas is committed to maintaining transparency and accountability in its operations.
Expected Impact of Elevate27
With Elevate27, Ageas plans to strengthen its market presence while addressing contemporary challenges, such as demographic changes and shifting consumer expectations. By forging productive partnerships and utilizing digital sales platforms, Ageas seeks to expand its customer base and provide exceptional service.
Conclusion: The Path Forward
As Ageas embarks on this transformative journey, the outlook is optimistic. The Elevate27 strategy signifies a proactive step, ensuring that Ageas not only adapts to market changes but also leads with innovation and integrity.
Frequently Asked Questions
1. What is the primary focus of the Elevate27 strategy?
The Elevate27 strategy aims to drive profitable growth, establish leadership in technical insurance, and enhance operational excellence while ensuring an exceptional customer experience.
2. What are Ageas’s targets for earnings per share growth?
Ageas is targeting 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, especially data and AI, will be key in Ageas’s future plans, improving service delivery and operational efficiency.
4. What commitments does Ageas have for its employees?
Ageas is dedicated to providing a great workplace, aiming for 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, with a goal of achieving over 35% of GWP from products that contribute to a more sustainable and inclusive world.
