Shared Mission to Bring People Together

One of my only regrets in life is that I didn’t learn to speak multiple languages. Even my rusty college French with all its grammatical faults provides a keener view into the French culture. If only like so many global colleagues, I could speak Spanish, German, Mandarin or more and have the same insights into those cultures.?

By understanding each other’s culture and differences, we find our shared interests and points of collaboration. I have experienced this to be true in an array of policy discussions throughout my career. Regardless of whether the topic was national security and global terrorism, nutrition and health or financial security.?

First, we may have different governments, economies, languages, beliefs... But many of the challenges and opportunities facing us as a global society transcend geographical or cultural bounds.

Second, and this one is crucial, perspectives must be represented, heard and valued from diverse regions across the world.

Those learnings became even more apparent when I stepped into leadership roles at international organizations.

To be sure, there will be challenges in bringing people together. Each person will come to the table with a different worldview, but these differences can be overcome by staying true to a common mission.?

What does that look like in practice? Let me give you an example.

While serving as president and CEO of the American Council of Life Insurers (ACLI), I was elected president of the Global Federation of Insurance Associations (GFIA)?in 2022.

GFIA unifies insurers from around the world to speak with one voice on matters affecting them and their policyholders. While we are from different countries and cultures, we have one common mission – protection for all.

Each member of GFIA faces unique challenges in their home country, and their policyholders have different needs. For example, the retirement security issues look different in the United States than they do in Europe.

But we can all agree that people and organizations around the globe face a gap in the protection they want and need.

In 2023, GFIA members led a first-of-its-kind study that identified and quantified the protection gaps with the biggest impact on people’s lives: cyber, pension, national catastrophes and health. The study offers recommendations on how to close these gaps.

The study makes clear that any meaningful progress will be difficult, but with collaboration between the private and public sector, it is possible. ?

The study’s findings on the $1 trillion global pension protection gap is a good example. Demographic changes are putting unprecedented pressure on pension systems worldwide. The global share of people over 65 is growing, birth rates are falling, and fewer people are in the workforce contributing to the retirement system. ??

Public and private stakeholders have a shared responsibility to ease this gap and can take several actions, including implementing tax incentives to encourage pension contributions and safeguarding access to financial advice for consumers with limited income.

In addition to coming together to solve common problems, GFIA expanded its reach with new members from Africa, Asia, Europe, North America, Latin America and Oceania.

Bringing diverse regional perspectives into the fold has created a fuller picture of the insurance industry and the needs of our policyholders. In some countries, financial security may start with something as simple as an ID card that allows a woman to access support. In others, it may involve that first contribution into a retirement plan.?

Diversity of thought strengthens our thinking and problem-solving skills. That’s how we achieve better outcomes.

Here’s the bottom line. International organizations like GFIA demonstrate the strength that comes from unity and how by working together, we can transcend borders to address common challenges.

We all want the same thing – a stronger world where everyone can thrive – and we can get there together.