Allianz has launched a new program, “Power of Unity,” aimed at addressing the erosion of trust in societal institutions and fostering confidence in a more stable economic future.
The initiative comes in response to growing polarization and social unrest observed worldwide, particularly after a year marked by elections in over 70 countries, representing nearly half the global population.
According to Allianz Research’s Social Resilience Index 2024, polarization has escalated in several nations, resulting in notable economic consequences. The survey highlights a weakening of democratic institutions, social cohesion, and confidence in functioning markets, with increasing partisanship affecting these areas.
Allianz also conducted a proprietary survey in six major markets, revealing that 69% of its customers, investors, and stakeholders expressed a lack of confidence in political leadership’s ability to solve pressing issues.
Oliver Bäte, CEO of Allianz SE, emphasized the importance of unity in economic prosperity, stating that “a more united world is a more prosperous world.”
He noted that polarization hinders economic growth and undermines security and optimism among customers.
“To secure their future, Allianz will combine forces with willing partners for action, demonstrating that leaders can work successfully together to solve the problems that matter most to people,” said Bäte.
The Power of Unity program will utilize research, thought leadership, and learning initiatives to encourage dialogue and understanding. It aims to bridge societal divides and restore trust in institutions by promoting respectful debate and constructive engagement.
Research efforts for the program include the Social Resilience Index 2024, which analyzes political, institutional, and social dynamics in 184 countries.
The report reveals the impact of social unrest on global growth and consumer confidence, with a focus on the economic costs of polarization. For instance, a decline in consumer confidence due to political polarization could reduce consumption by up to $215 billion in the US and $215 billion in Europe over the next four years.
In addition to research, the program will offer education and resources designed to equip Allianz’s stakeholders with the skills needed to counter misinformation, defuse tension, and maintain confidence amid uncertainty.
Thought leaders from various fields, including politics, business, and sports, will contribute to the conversation on overcoming polarization.
The program’s first phase includes workshops and dialogue sessions in Germany, where Allianz employees will explore the root causes of polarization and unity. These efforts are part of Allianz’s broader commitment to addressing societal challenges through initiatives such as the JOBLINGE and Cyber Talent Academy programs.
What do you think is the most effective way to tackle polarization in today’s society? Share your thoughts in the comments.
