Staying Relevant in a Rapidly Changing World

In a compelling discussion, Herman Scheepers, CEO of Renasa Insurance, reflects on the evolving insurance landscape and the critical challenges it presents to industry leaders. He begins by addressing the urgent need for relevance in a world rapidly transformed by technological advancements and escalating cybersecurity threats. The integration of modern technology with legacy systems, compounded by a global talent shortage in IT and insurance, poses significant hurdles. Herman acknowledges the increasing difficulty of retaining skilled resources, especially as South African talent competes on a global stage.

Transparency and inclusivity emerge as central themes in Herman's approach to leadership. He advocates for open communication about development plans, ensuring employees feel part of the solution and secure in their roles. "AI won’t take your job," he notes, "but someone who knows how to use it might." This philosophy drives his focus on upskilling and engaging staff in the innovation process.

Herman also emphasises balancing innovation with operational demands. He explains that prioritising forward-thinking solutions often allows companies to "leapfrog" past entrenched challenges. Dedicated resources for innovation, he believes, are essential to ensuring long-term adaptability and growth.

As part of the TIH Group, Renasa benefits from shared resources and ideas across diverse business areas, strengthening its innovative capabilities. This collaborative environment enables Renasa to offer enhanced solutions to brokers while positioning itself as a forward-thinking leader in the insurance industry.

Herman’s insights underscore the importance of fostering a culture of adaptability, vision, and innovation to navigate the challenges of today and secure a strong future for the insurance sector.

Key Points

• Adapting to Change: The importance of staying relevant amid rapid technological advancements and rising cybersecurity threats.

• Talent Shortage: The difficulty of retaining skilled IT and insurance talent, with South African resources competing globally.

• Staff Engagement: Transparent communication, inclusion in development plans, and a focus on recognition and reward help staff adapt to change.

• Upskilling: Ensuring employees are continuously trained in new technologies to remain relevant and productive.

• Balancing Innovation and Operations: The need for a dedicated focus on innovation to avoid being bogged down by operational demands.

• Collaboration: The advantages of being part of a larger group, leveraging shared resources and ideas to drive innovation.