Investment in Trensition means investing in the future
In 2022 Ageas took the partnership with Trensition, an AI driven strategic intelligence start-up, to the next level.
Alongside venture capital and equity funds manager Capricorn Partners, Ageas made a strategic investment in Trensition. Trensition’s CEO Vincent Defour and Ageas’s Group Director Strategy and M&A Ben Coumans reflect on their partnership.
Vincent, how did Trensition get started and what was the motivation?
Vincent: As with all successful start-ups it starts with a great idea: we wanted to visualise the way trends evolve through time using big data and inhouse AI-models. This evolved into an innovative value proposition that supports corporate strategic foresight and sparks innovation. That’s the core of what we do today. We have already been working alongside Ageas since 2019 to develop their Horizon Scan methodology, fuelled by our AI driven search engine.
Ben, what does this investment in Trensition mean for Ageas?
Ben: We are building on what is already a highly successful partnership which has provided great added value to Ageas over the past years. Trensition significantly strengthened our annual Horizon Scan exercise, allowing us to confidently map trends that could impact the insurance sector - and therefore Ageas - in the future. This investment much aligns with our ambition under Impact24 to grow alongside “future winners” outside of the traditional perimeters of insurance, allowing us to experiment around AI capabilities. We provide Trensition with the means to scale-up its Trendtracker platform and to develop further capabilities on a broader and international scale. A growth from which Ageas can also benefit.
Why do you believe AI is becoming more and more an essential complement in strategic foresight?
Ben: In a VUCA world (Volatile, Uncertain, Complex, Ambiguous), many companies struggle to make sense of the rapidly unfolding changes and prioritise their potential impact. Organisations across sectors are stepping up their Strategic Intelligence and Foresight capabilities to thrive in such a complex environment. Because the further you look into the future, the bigger the uncertainty and the more you need “hard” data that complements your assumptions. In a world where gut feeling is not enough, AI augments our human analysis. It provides a greater level of confidence around the choices you make in future-proofing your business.
How does the future of your partnership look?
Vincent: Our No.1 priority is to further develop the online Trendtracker platform as a ‘SaaS’ offering (Software-as-a-Service). Trendtracker is a 100% AI driven online platform that allows companies to get a tailored take on how their world is changing. It provides insights about trends that matter to their stakeholders and the environment in which they operate. The potential reach for this type of service is huge, and the recent investment by Ageas and Capricorn Partners will allow us to grow this service on an international scale. So, in short: the future looks very good!
AI augments our human analysis. It provides a greater level of confidence around the choices you make in future-proofing your business.
Ben Coumans, Ageas Group Director Strategy and M&A
Ben: The value Trensition brings to Ageas’s Horizon Scan exercise is evident. Moreover, the results from the Horizon Scan can now be shared in an intuitive way through Trendtracker. This allows us to better engage with people across the Group on strategic decision making. This year we opened up the Trendtracker platform to all employees of Ageas across Europe and Asia. Anyone in our business can now easily access key-insights on emerging and disruptive trends impacting our business at any moment. As Trensition continues to develop its SaaS, Ageas can only benefit from these enhanced capabilities.
