Digital economy

Digital Economy and Social Security Observatory

The Digital Economy will profoundly transform our daily life, how we work and how we live.

The Observatory will provide ISSA members with an understanding of the opportunities and the challenges it will present to social security administrations.

It will look at this transformation from two angles: the changing environment in which social security institutions evolve and how Social Security institutions themselves will be impacted and can respond to these challenges.

 

Social impact

The digital economy is transforming the way social interaction and personal relationships are conducted.

The wide range of new social networks has tremendous impact on societies’ collective behaviours, some negative, others positive. On the one hand, technology breaks down physical barriers and provides countless possibilities to communicate, interact and meet people without consideration for their countries of residence, social origin, or time constraint.

On the other hand, technology enables the individual to withdraw into to a virtual world where it is sometimes difficult to distinguish facts from fiction, opening the door to manipulation. Those who do not have the access or the ability to navigate the digital world are becoming outcasts – creating a digital divide.

The digital economy will see significant changes in the workplace where those with less education and training at higher risk of being permanently side-lined and creating a social stigma and stress for the individual, the family and the community. Though on the other hand social media has fostered an increased awareness of key social challenges facing society such as reducing inequalities, and lifting people out of isolation or poverty.

Today social security institutions must find ways to leverage technology to break down the barriers of isolation, the digital divide and mitigate the social impact of dramatic adjustments in the labour markets. They must harness the technology to protect the social investment throughout the life course particularly during key transition: from early childhood, to education, to the workplace, job loss and re-entry in the workforce, sickness and disability and retirement.

Social security institutions must explore ways to harness data to perform predictive analysis of risks and to design prevention measures that will preserve the social investment. They must identify the new risks faced by the individual, the family and the community to adapt its programme, with a view of empowerment.

Ten global challenges for social security

Media Monitor Media Monitor

8 February 2018

Paperjam News (08.02.2018) Le ministre de la Sécurité sociale, Romain Schneider, et le ministre du Travail, de l’Emploi et de l’Économie sociale et solidaire, Nicolas Schmit, ont annoncé le 6 février 2018 le lancement d’une nouvelle plateforme informatique, la «Luxembourg Microdata Platform on Labour and Social Protection». 

8 February 2018

netralnews (07.02.2018) The digital revolution or the fourth industrial revolution (4.0) could create economic storage that would potentially cause Indonesia to lose 50 million job opportunities. Minister of National Development Planning Bambang PS Brodjonegoro said all parties should be ready to face it including the manager of the national social security provider.

7 February 2018

The Jakarta Post (06.02.2018) Currently, the global workforce and business landscape have to deal with rapid changes brought by the latest innovations in communication technology, be they smartphones or digital gadgets, which have disrupted the way businesses run their day-to-day operations. The technological innovations have brought what experts term the fourth industrial revolution, which is characterized by increased automation with the help of the internet of things.

6 February 2018

cnbc.com (30.01.2018) Amazon views technology as a key part of its strategy to drive down costs. Telemedicine companies could be the big winners.

5 February 2018

Jordan Times (07.01.2018) Prime Minister Hani Mulki on Sunday formed a committee to handle all affairs related to the social security network, the term referring to the funds allocated to ease the impact of lifting subsidies in the 2018 budget.

1 February 2018

EurActiv (31.01.2018) The European Commission unveiled plans for a pan-EU Health Technology Assessment (HTA) law on Wednesday (31 January), with EU health chief Vytenis Andriukaitis promising that they would help patients take advantage of “an exciting era for innovation in health”.

31 January 2018

Les Echos (31.01.2018) Tendance: En 2017, les sites spécialisés ont enregistré une forte augmentation des offres d'emplois. Et le phénomène ne serait pas près de se terminer. Une croissance à deux chiffres ! Sur les  sites internet spécialisés , le volume des offres d'emplois a très fortement augmenté en 2017. « La croissance était déjà de 15 % en 2016, mais elle est passée à 41 % en 2017, observe David Beaurepaire, responsable de la stratégie et du développement du groupe RegionsJob

30 January 2018

Telecompaper (29.01.2018) The Rwanda Social Security Board (RSSB) announced plans to partner with MobiCash to ease collection of payment for community-based health insurance (mutuelle de sante) across the country, New Times reported. According to Deogratias Ntigurirwa, in charge of the Mutuelle de Sante mobilisation and registration division at RSSB, subscribers are expected to start using the new digital platform in June. 

25 January 2018

oecd (16.01.2018) Technology is rapidly transforming the way that the financial sector is operating, and the management and delivery of pensions is no exception. Innovative applications of technology for financial services, or FinTech, are already being used to improve communication with consumers and their engagement with their pension plans. FinTech also has great potential to help pension providers make their internal processes more efficient and improve their risk management. The possibilities that new technologies offer are driving changes in business models and the way in which financial products are delivered to consumers. These changes can lead to increased consumer benefit through lower costs and increased accessibility of pensions. While regulators are keen to promote innovative ideas that can lead to consumer benefit, they also have to proceed with caution to ensure that consumer protection is not overlooked. Many jurisdictions are dedicating significant resources to keep up with the rapid technologically-driven changes so that the regulation can strike a balance that is both adequate and appropriate in this new environment.

24 January 2018

World Economic Forum (22.01.2018) As the types of skills needed in the labour market change rapidly, individual workers will have to engage in life-long learning if they are to achieve fulfilling and rewarding careers. Using big data analytics of online job postings, the methodology in this report demonstrates the power of a data-driven approach to discover reskilling pathways and job transition opportunities.

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