Seguros y pensiones para todos

Ageingnomics: a positive approach to population ageing

Ageingnomics: a positive approach to population ageing

Home > Blog > Ageingnomics: a positive approach to population ageing

02.Oct.2020

Ageingnomics is already beginning to make itself felt in public opinion for the way it sees ageing as a fabulous opportunity.

You may be familiar with the story of an English businessman who, in the mid-nineteenth century, sent his two best salesmen to Africa to explore the possibility of selling shoes on that continent. After a few days, the first employee sent the following telegram: “No possibility of sales. Nobody wears shoes here.” The second salesman sent a very different telegram: “Fabulous opportunity. They don’t wear shoes here yet.”

It is a similar situation with our ageing population and the demographic transformation of our country. The predominant view is alarmist, focusing on problems and risks: the bankruptcy of the pension system, reduction of the workforce, increase in medical expenditure and a drop in consumption. But there is also another way of approaching the subject and coming up with solutions.

An open and constructive viewpoint

While many only see threats, the Ageingnomics movement is already beginning to make itself felt in public opinion thanks to the way it sees population ageing as a fabulous opportunity. Without forgetting the undeniable challenges that the transformation of the population pyramid poses, the Ageingnomics concept tries to provide an open and constructive viewpoint of the challenges associated with demographic ageing.

Ageingnomics

The term, which comes from the combination of ageing and nomics (law of), was coined by Fundación MAPFRE and Deusto University to name the process whereby the senior population becomes an engine that drives economic and social development, opening up new opportunities in the spheres of employment, creation, savings and consumption. Going beyond the concept and moving from words to action, the Ageingnomics Research Center is working to put Spain at the forefront of a global strategy in relation to these new opportunities and to disseminate a positive outlook regarding demographic change.

From health to insurance

Health, tourism, finance, insurance, urban planning, housing and the labor market itself will have to be hugely transformed to adapt to the needs of older citizens. In the field of insurance, for example, it will be necessary to change forecasting systems. Personal responsibility in financial planning will be decisive, as well as the more rational distribution of the income that we generate throughout our active life. In this sense, insurance products can be part of the solution.

You may also like…

Roadside assistance: the insurance that gets you out of trouble

Roadside assistance: the insurance that gets you out of trouble

What roadside assistance insurance offers, as its name suggests, is help and a whole series of solutions when your vehicle is immobilized due to a mechanical breakdown or mishap: transfers in tow trucks, cabs, ambulances, etc. Roadside assistance is, therefore, the...

The ICT talent revolution in the insurance sector

The ICT talent revolution in the insurance sector

This new way of understanding insurance company management uses technology to create new products and personalized services for its customers and relies on innovations such as big data, blockchain, artificial intelligence, cloud computing, machine learning and the...

Your pets, even more secure

Your pets, even more secure

The aim of this regulation is to establish obligations to protect animals, care for them in decent living conditions, guarantee their rights, promote their healthy development, prevent their ownership from causing danger to others, train them with non-violent methods,...

What is your investor profile? We will help you find out

What is your investor profile? We will help you find out

The Spanish National Securities Market Commission (CNMV) defines your investor profile as the relationship between the risks you are willing to take and the returns you expect to earn. In other words, how much you are willing to risk, or not, for the possibility of...

The 7 stages of financial freedom. Which one are you in?

The 7 stages of financial freedom. Which one are you in?

Dividing that journey into stages will help you gain perspective on where you are and how stable your personal finances are. It will also help you see your progress much more clearly and keep your motivation high. There is no one single way to divide up these stages...