Why the power of unity is key to building a more prosperous world

2024 was a tumultuous year that saw the continuation of political polarization and social fragmentation – trends exacerbated by continuing conflicts in Ukraine and the Middle East.

The year was also marked by elections in more than 60 countries, revealing a widespread failure of incumbents to address the public’s concerns. Notably, all incumbent parties in developed countries lost voter share.

When discord replaces common purpose, economic growth stagnates. These publicly observable trends are supplemented by Allianz’s own research, which shows that people see polarization as damaging to economic prosperity and their personal wealth.

About 69% of respondents surveyed expressed a lack of confidence in the ability of political leadership to work together to solve problems. Such increased partisanship undermines the strength of democratic institutions, social cohesion and trust in functioning markets and economies.

Conversely, a more united world is a world that is more prosperous, more confident and more prepared to meet future challenges. In a world increasingly characterized by division, the concept of unity emerges as a societal imperative and an economic necessity.

Fortunately, history shows us that polarization can be addressed and overcome through enhanced communication, active participation and by providing people with the skills and tools necessary to strengthen common ground.

Today’s polarization challenges business leaders to act. Business leaders are uniquely qualified to be catalysts for social cohesion, starting with their own workplaces. Businesses remain among the most trusted institutions globally, according to the Edelman Trust Barometer.

Taking this trust as a signal to act, we at Allianz recently launched a programme called Power of Unity. Its objectives are to inform, inspire and involve all our stakeholders by providing education, skills, tools, events and initiatives that bring people together to overcome disagreement. We want to instil a sense of belonging and investment in a better, shared future. This requires us to be open and objective, but not necessarily neutral.

Understanding the causes of polarization and how it impacts us is the first step to overcome it. Allianz’s Power of Unity, for example, focuses on five areas where we believe we can build common ground:

Misinformation, created only by a small percentage of online communities, is designed to divide us. Trusted knowledge can bring us back together. Bridging societal divides requires common baseline knowledge and skills that encourage civility and connection.

The Power of Unity programme includes resources to help stakeholders identify and counteract fake news, engage in respectful debate and maintain confidence amidst uncertainty. Equipping people with these skills empowers them to engage constructively with each other in the spirit of understanding.

Encouraging open dialogue is crucial in overcoming polarization. This is why Allianz has created platforms where thought leaders from various fields can share their perspectives. The intent of these idea exchanges is to foster mutual understanding and respect – essential components of social unity.

Contributions from figures like Holocaust survivor Margot Friedländer, former German Vice Chancellor Sigmar Gabriel, and footballer Harry Kane enrich our dialogue and inspire action.

To fix a problem, we have to understand it. This is why we sponsor comprehensive research, such as the Allianz Social Resilience Index, to examine the socio-economic factors impacting societies.

By understanding the root causes of polarization, we can develop targeted strategies to address them effectively. Allianz regularly surveys its stakeholders in core markets to identify areas where they expect us to act and trust us to have influence. These insights enable us to allocate our expertise and resources toward the issues that are most relevant to them.

Unity begins at the community level. Power of Unity builds on existing Allianz community initiatives that promote skill-building, health and resilience. Supporting local efforts creates a ripple effect that strengthens social cohesion and trust. Initiatives like JOBLINGE, Cyber Talent Academy, and our partnerships with the Olympic and Paralympic movements exemplify our commitment to community engagement.

We also focus on internal communities, as building common purpose is essential for a functioning work-life and flourishing organization. To counter polarization, we have organized employee listening sessions, facilitated moderated dialogue and created opportunities for active participation during a roadshow though our regional offices in Germany.

Social unity is founded on trust. Partnerships across pillars of society inspire public trust and are especially credible when they successfully combine their respective areas of expertise to deliver on their promises to people.

Allianz believes strongly in the value of partnerships to help us responsibly engage with our communities and multiply positive impact. From addressing global issues to strengthening local communities, public/private partnerships are critical for overcoming social polarization and demonstrating that free and open societies can still deliver positive benefits for people.

The Power of Unity programme is not a campaign. It is a recognition that our global business has a fundamental and permanent role to play in encouraging social cohesion. The programme will evolve and grow over time, but we will remain focused on action that helps create a world where unity prevails over division.

Every company has the potential to unite and uplift their communities. For us, a focus on education, dialogue, research, community engagement and responsible communication allows us to strategically direct our efforts.

We are dedicated to overcoming polarization and invite all stakeholders and the global business community to join us in this mission. What could be more “pro-business” than to work towards a more united and prosperous world? Now is the time to come together and act.