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Insurance Forum ENGLISH VERSION Insurance Forum IN THE OCCASION OF ARGENTINA’S G20 PRESIDENCY 2018 1 Insurance Forum Argentina 2018 Published by: © Superintendence of Insurance of Argentina, SSN. Superintendence of Insurance of Argentina. Authorities Ministry of Treasury, Argentine Republic. This booklet compiles contributions of panellists from the Insurance Forum 2018, held in San Carlos General Coordination: de Bariloche, Argentine Patagonia. Camila Silva. Ing. Mauricio Macri Bianca Orlandini. President of the Argentine Republic We thank everyone who made this event possible, Malena Kramer. which will remain in history for being the first Insu- rance Forum held in the occasion of the G20. Translations: Lic. Nicolás Dujovne Communication Team of the Ministry of Treasury of Minister of Treasury of the Argentine Republic the Argentine Republic. Photography: Dr. Juan A. Pazo Superintendence of Insurance of Argentina. Superintendent of Insurance of the Argentine Republic Booklet design: Martín Velazquez Dauga. - This book or any portion thereof may not be reproduced or used in any manner whatsoever without the express written permission of the publisher: [email protected] Superintendence of Insurance of Argentina www.argentina.gob.ar/snn Printed in Buenos Aires, Argentina//2019 Prologue The Insurance Forum 2018 was held in the City of Bariloche, in the Argentine Patagonia, on September 24-26 and gathered more than 350 representatives from the national and international insurance markets and included the participation of the Minister of Transport, Guillermo Dietrich, and the Secretary of Finance, Santiago Bausili, and a speech given by President Mauricio Macri It was the first insurance event conducted within the framework of the G20 and organized by the Argentine Government through its Insurance Authority (Superintendencia de Seguros de la Nación) and the Argenti- ne presidency of the G20. The event promoted the value of the insuran- ce sector as a key actor for the development of economies and as the center of the discussions of global leaders. The agenda of the Insurance Forum 2018 focused on four central points: the promotion of long-term investment in infrastructure, the construction of resilient economies, insurance 2.0: towards digital disruption, and the insurance globalization. “An event of these characteristics constitutes a milestone for the insu- rance sector. G20 priorities –under the Argentine presidency- are the 8 9 future of work, the infrastructure for development and a sustainable food future, areas directly connected to the insurance industry. This increa- ses the importance of the event”, said Juan Pazo, Superintendent of the Argentine Insurance Authority. The organization of the Insurance Forum 2018 has been carried out with the assistance of the OECD (Organisation for Economic Co-opera- tion and Development), which acted as Secretariat during the regulators event. The meetings held on September 25-26 were organized thanks Ministerio de Hacienda to the collaboration and cooperation of the local and international in- Presidencia de la Nación surance industry represented by the Geneve Association, the Global Federation of Insurance Associations (GFIA), the Argentine Insurance Committee and its chambers (ADIRA, AVIRA, AACS and UART). To that end, an Executive Committee was created. It was chaired by Adrián Werthein from Grupo Werthein and co-chaired by Alejandro Simón (Sancor Seguros), Recaredo Arias (Vice President GFIA), José Cardo- so (President IRB Brasil RE) and Toyonari Sasaki (Vice President of Life Insurance Association of Japan). 10 11 12 13 G20 Argentina 2018 INSURANCE FORUM ARGENTINA 2018 INSURANCE FORUM ARGENTINA 2018 14 15 G20 ARGENTINA 2018 G20 Argentina Priorities The future of work Unleashing people’s potential. Infrastructure for development Mobilizing private resources to reduce the infrastructure deficit. INSURANCE FORUM ARGENTINA 2018 A sustainable food future INSURANCE FORUM ARGENTINA 2018 Improving solid and increasing productivity. 16 17 G20 ARGENTINA 2018 The future of work: Unleashing We will seek to pin down the impact that technological Infrastructure for development: Priorities: making peoples’ potential change is having on productivity, growth, jobs, and in- Mobilizing private resources to equality. Following a diagnostics phase, we will also ex- reduce the infrastructure deficit our contribution Technological change is extraordinary in its magni- plore the policies needed to embrace the opportunities tude and speed. The emergence of new technolo- and address the challenges presented by technology. Infrastructure is critical to development. Investment Our presidency will focus on three key issues: the gies has led to the development of new forms of in infrastructure boosts growth and productivity. future of work, infrastructure for development, and work that are rapidly changing production processes Education is at the crux of this debate. Education em- Moreover, infrastructure provides the physical and a sustainable food future. worldwide. This offers huge opportunities to accom- powers people to shape their own futures. It enables digital access necessary for our citizens to seize plish fair and sustainable development; yet it also them to create their own endeavours and form an ac- the opportunities of the future economy. presents challenges that are putting pressure on the tive citizenship able to contribute to the development employment, welfare and education agendas. of a world that is both fairer and more sustainable. Despite its importance, investment in infrastructu- re is far less than what is needed to sustain vigo- Policy responses need to ensure that embracing Making the new wave of technological breakthrou- rous growth and make it truly inclusive. The global technological change will not engender exclusion, ghs as inclusive as possible will require conside- infrastructure gap projected from now to the year social disintegration, or backlash. Providing these rable investment in training and skills for life and 2035 amounts to USD 5.5 trillion according to responses in a coordinated manner will also help work. It may also require an adaptation in our fiscal some estimates. Meanwhile, institutional investors INSURANCE FORUM ARGENTINA 2018 prevent excessive gaps in technology adoption policies or structural reforms. Now is the moment around the world have USD 80 trillion in assets INSURANCE FORUM ARGENTINA 2018 across countries and surging inequality among them. to shape the opportunities and skills that prepare under management, typically offering low returns. our citizens for change. We need to create the conditions for more and be- Mobilizing private investment toward infrastructure tter jobs. We need to provide tools and skills to tho- is crucial to closing the global infrastructure gap. It se people looking for a job and those whose jobs can also ensure a better return for those who today are at risk of being replaced by automation. We save and invest. This is a win-win objective and it should explore global initiatives that ensure that requires international cooperation. everyone has a chance to develop their full poten- tial so as to benefit from the new technological era. 18 19 G20 ARGENTINA 2018 We will seek to develop infrastructure as an asset A sustainable food future: of the land available for food production causes an management. The work in this field will be oriented class by improving project preparation, addressing Improving soils and increasing irreversible degradation to the ecosystem which to explore how the G20 can provide the internatio- data gaps on their financial performance, impro- productivity becomes dramatic in developing countries or re- nal coordination necessary to foster public-private ving the instruments designed to fund infrastruc- gions with high food insecurity. collaboration between industries, governments, ture projects, and seeking greater homogeneity Food security is an important link in the process of international agencies, farmers’ associations and among them. achieving stability and peace. In no other case are We have a valuable opportunity to promote a civil society. security and development more evidently interlinked broad debate on the importance of sustainable soil Developing infrastructure as an asset class holds and mutually reinforced as in food. Meeting the die- great promise to channel the savings of today into tary needs of future populations requires a sustai- public infrastructure, efficient transportation ser- nable way of increasing agricultural productivity. vices, basic sanitation, energy flows and digital connectivity that will make each person of today a The G20 countries are key players in the global Reaching out global citizen and worker of tomorrow. food system. Our territories account for about 60% of all agricultural land and account for almost 80% Argentina has invited Spain, Chile and the Netherlands to attend the G20 meetings. We have of world trade in food and agricultural commodities. also invited the chairs of the Caribbean Community (Jamaica), ASEAN (Singapore), African Soils are a key part of the natural environment and Union (Rwanda) and NEPAD (Senegal). Given its strong focus on infrastructure investment, our presidency has invited the Inter-American Development Bank and CAF-Development Bank INSURANCE FORUM ARGENTINA 2018 from where most of the food consumed by man- INSURANCE FORUM ARGENTINA 2018 kind is produced. As a limited and non-renewable of Latin America. We are also looking
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