Young Voices Shaping the Future of Insurance

Many discussions focused on the urgent need for the insurance sector to better connect long-term goals with short-term incentives. Too often, incentives are designed to favor immediate profits, while the long-term consequences, from climate risks to social and economic instability, are barely tackled and consequently left for future generations to bear. But, as several Fellows pointed out, short-term success and long-term resilience don’t have to be contrary to each other. “We can reward profits now but also reward patience and impact over time,” said Wangeci Mathenge, Head Marketing Actuary at Inclusivity Solutions in Kenya, emphasizing the need for incentive systems that value sustained effort. Investors must be willing to evaluate projects beyond short-term profit cycles and to understand the systemic challenges, such as inflation or climate pressures, that affect impact outcomes.

Even though economic, political, and climate-related challenges are difficult to face, they can also drive innovation. “Our hands will be forced by the world we will be living in,” explained Daniel Murphy, Lead for Insurance & Asset Management Industry at the World Economic Forum, “We will soon be forced to innovate new ways of spreading risk and aligning incentives toward resilience.” Fellows agreed that this transformation requires rethinking what success looks like, not only in terms of financial performance, but in how effectively institutions and stakeholders contribute to social and environmental stability.

Building true resilience, they agreed, means creating systems that value both immediate progress and lasting change. Involving local communities, private and public stakeholders, and fostering intergenerational cooperation will be key to reimagining the future of insurance. Younger participants emphasized that it is not about replacing older generations but rather working together and coexisting by bringing complementary strengths to the table. “I always ask myself how deep my work goes and how good it is for the future,” said Wangeci, a sentiment that Pedro shared, reflecting the purpose-driven mindset that guides many young professionals.

But emphasizing purpose does not mean neglecting profit, as Daniel noted. Both can go hand in hand, but only if inclusive business models evolve. He envisioned a shift from a profit-based to a value-based system, where insurers act less like claim processors and more like “risk advisory bodies” that help societies anticipate, prevent, and distribute risks collectively. This idea also links to his call for global risk pooling, meaning that we need to move beyond national or sectoral boundaries to share risks more equitably across countries and industries. After all, we live in an interconnected world where global challenges do not stop at borders, and neither should the solutions we create.

The world is full of problems and challenges waiting to be tackled by courageous and creative minds. As these emerging leaders reminded the group, losing hope is not an option. “Working on inclusive insurance is not the easiest place to be,” admitted Wangeci, “but sometimes I look at my baby and say, no, we cannot give up, I have to do this.” Pedro added that authenticity and persistence are what keep their generation moving forward: “As long as you’re authentic and willing to take some risks, you can still find a purpose-driven compromise.”

Their reflections made one thing clear: Building resilience is not just a technical task that requires knowledge and skills. It’s also a collective act of imagination and care for the world we will leave behind. Because, as rightfully stated,

“We have not inherited the world from our parents; we are borrowing it from our children”.