International travel is not a nice-to-have, it's a necessity

During the worldwide lockdown implemented as a result of the Covid-19 pandemic, international travel around the globe was all but shut down. Business travel was completely off the cards, and we had to adjust to talking to clients via screens.

Having recently travelled to Europe for stakeholder meetings I can honestly say, there is no substitute for in-person engagement.

Yes, the content of some of these meetings, like the impacts of the energy crisis and rising inflation on global reinsurance, could have just as easily been conveyed through a virtual discussion.

However, the personal connections established and the relationships built during my time abroad could not have been replicated online. There is simply no substitute for the human element, which is so important in a partnership-based industry like ours.

During a hard market like the one we are currently experiencing, companies look for areas to cut costs. International travel is often one of the first heads on the chopping block, but we would do good to not prioritise cost saving over a business fundamental like cementing solid relationships. For when the market turns again, and it will, it is these partnerships that will prime us for success.

I also noticed a number of other benefits to being able to travel again. For one, it was easier to network and meet new people and potential new clients who I would never find via a video conference.

The doors to international seminars and conferences were once again open, providing professionals with opportunities to connect with global industry experts they wouldn't normally have the chance to meet. These platforms also allow us to remain updated with industry trends in a more engaging way, more than just simply reading an article online.

International business travel becomes an effective team-building exercise, as colleagues bond and build morale outside of the office. One colleague accompanied me on my trip and together we met our London colleagues. This strengthened our relationship, and our relationship with our UK team immeasurably.

Given that we are a small, handpicked team working across multiple offices, this was invaluable. Any re/insurance company with staff scattered across several countries can attest to the strength of in-person teambuilding, and international business travel once again makes this possible.

Being out in the world again also allowed me to really see how markets, countries and people have changed since the pandemic, and what the so-called 'new normal' looks like. This is important to ensure that we as business leaders remain relevant, and in touch with the realities of the global marketplace.

While online meetings were a godsend during lockdown and video conferencing has its place in the modern business, virtual gatherings should not become the norm. There is still so much more to be gained from personal interaction, especially in other countries and with other cultures.

Although my trip took me off African soil to Europe, the same is true of our continent: we are very much open for business and international business travel to Africa is once again possible.

Reinsurers might have limited capacity, but Africa is still a solid risk worth underwriting. Come visit us and see Africa for yourself. There is now no reason not to.