Transforming data-driven dialogue into action toward a new global equilibrium

A month ago, we saw striking images of a world being reordered, with statues being pulled down in Damascus. In Syria and beyond, there was hope for change and renewal, but also worry over the region's unavoidable complexities.    

This evolving, still very fragile story is just one of many threads now dominating the global stage as business and government leaders prepare to gather in Davos, Switzerland, for the World Economic Forum from 20-24 January.

In addition to the dynamics reshaping the Middle East, the US is inaugurating a new president. Governments elsewhere are in transition or turmoil, too. The post-World War II framework that fueled prosperity in much of the world for 75 years is under pressure as power balances are reset, rivalries simmer, and, tragically, wars are waged amid a new multipolar reality.

Simultaneously, rising global temperatures, which set another record in 2024, along with population growth, urbanisation and inflation, are driving rising insured natural catastrophe losses. These have exceeded USD 100 billion for five consecutive years. Clearly, at a time when unity is needed to solve big problems, there is much to divide the world's attention.

The enduring relevance of dialogue is why we gather every year at WEF in the Swiss mountains, to engage each other about where our planet is headed and how we can master big global challenges, especially when it may seem disorder has the upper hand.

The Annual Meeting's theme this year is "Collaboration for the Intelligent Age."  When I attended the Annual Meeting in 2024, it was "Rebuilding Trust." And in 2023, leaders came together under the banner of "Cooperation in a Fragmented World."

The years may have passed, but these themes have lost none of their original relevance. They also share something very important: collaboration, rebuilding trust and cooperation all rest on a foundation of dialogue.

For a profound example of this, I have to look no further than Switzerland's neighbours, Germany and France. In the late 1940s and 1950s, these historic foes overcame centuries of deep animosity to become strong European partners. Dialogue preceded their reconciliation, so that future generations of French and Germans could live without fear of each other.

The honest exchange of ideas fosters empathy and understanding, helping people who may be at odds better appreciate the nuances of each other's views. This is the spirit of Davos.

With many 21st century challenges growing more complex and increasingly interconnected, however, dialogue over addressing them requires some essential ingredients if it is to achieve its problem-solving potential. Data to inform our dialogue is critical.

Today, we can tap an unprecedented volume of data to enrich our discussions about risks and opportunities. From satellites orbiting the earth to the smartwatches on our wrists, the vast array of information that is being collected is just waiting to be enlisted in the service of resilience.   

At Swiss Re, risk data buttresses everything we do and every decision we make, whether we're leveraging it to understand extreme weather that damages infrastructure, to provide insights about protecting people against chronic diseases, or to develop covers for cyber-attacks with the potential to cripple multiple industries.   

Here are just two examples: at Swiss Re, we combine 160 years of proprietary insights with third-party datasets in our Risk Data & Services platform. This allows corporate clients to build digital twins of their supply chains that often stretch across the planet, identifying hidden exposures that could disrupt their operations.   

With Fathom, a recent addition to Swiss Re's CatNet tool for assessing global catastrophic risks, we're delivering a flood hazard dataset to the Canadian government showing different scenarios including climate impacts, to help it prepare for costly, disruptive high-water events like those that struck the country in 2024.    

In both these cases, data shapes and strengthens the risk dialogue we have with our clients at insurers and companies as well as governments, so all of us can better understand the topography of perils that could weigh on our collective growth and prosperity.    

Of course, healthy dialogue has also faced its fair share of challenges recently. During the COVID-19 pandemic, for instance, communication suffered as people were prevented from meeting in person amid travel restrictions to protect human health. WEF in 2021 was canceled, while the 2022 edition was postponed.

Now that the Annual Meeting has resumed its traditional schedule, I believe there is a renewed and lasting appreciation for the privilege of meeting face-to-face – not only to discuss our respective differences, but also to find common ground on complex issues.

After all, the promise of our globalised world, much like the hopes and worries inspired by those moving scenes we witnessed in early December on the road to Damascus, does not conform to a tidy narrative. Perspectives vary, shaped by our unique histories, cultures, and circumstances. This is why we must keep dialogue alive.

We cannot stop at dialogue, either. With this century's story still unfolding, it is what we do now that will shape its trajectory. When we leave Davos, we must commit to transforming our data-led dialogue into action in the pursuit of a new global equilibrium.