In the last 1,032 days, we have seen a closing and reopening of the world which caused challenges that no one had faced before: global lockdowns, fuel shortages, food shortages, energy shortages, and the tragic invasion of Ukraine. This all happened in 1,032 days. Perspective is a must when planning to move forward: giving weight and order, and allowing for prioritisation. Adapting your outlook on the world can also heavily steer your ability to move in the right direction.
A 1938 Harvard study showed that the biggest predictions of happiness and healthiness are the closeness and strength of one’s relationships. Utilising our relationships formed through ICMIF’s global network can help steer us through the struggles that lie ahead.
Climate change is happening faster and is worse than originally predicted. These threats are not only life critical, but also business critical. As an industry, we should use our relationships to change this perspective by using and sharing facts and statistics, stories, resources, innovations and, utimately, insurance protection.
In terms of the COVID-19 pandemic, UNICEF said it “…has been the biggest threat to progress for children in our 75-year history. While the number of children who are hungry, out of school, abused, living in poverty or forced into marriage is going up, the number of children with access to health care, vaccines, sufficient food and essential services is going down. In a year in which we should be looking forward, we are going backward.”
Along with this, mental illness is a very hot topic in today’s world. After the pandemic, it is said that one billion people are now dealing with mental health issues and that 50% of cases start showing at the age of 15. The probability of developing mental illness increases if you encounter trauma, such as famine, abuse, hunger, crisis. These trauma triggering events are more likely since the pandemic, as children’s futures were derailed (eg some were not able to go to school, and people were isolated). It is predicted that in the next 10 years, depression will place more of a burden on the world than any other disease.
Relations, power and money drive most nations in our world: from trade agreements to military investments. In 1960, France, Germany, and Great Britain were the biggest trading countries. Today, it is Germany, USA, and China. There are three perspectives to consider here: who has it? Who wants to sell it? And who wants to buy it? This is how relations are made between countries.
There is a correlation between democracy and a country having a higher happiness index. There is also a correlation between GDP per capita and democracy – higher GDP linking to democratic states. The highest ranked country for happiness is Finland.
When highlighting the ‘happiest countries’ on the map, we could see a polarised world. One that highlights the importance of organisations such as ICMIF which bridges the gap between countries of all backgrounds.
Sustainability is both life and business is critical. Having financial strength, learning, sharing and innovating, can help ensure sustainability. Having diversity means lower vulnerability and quick adaptation to changes is a necessity.
ICMIF has been established for over 37,000 days, and now has 200 members who together employ 226,000 people and serve 356 million member/policyholders. Let us all use this network to widen our perspectives, encourage learning, and strengthen our relationships.
