Peter Hunt of Mutuo, a consultancy focused on mutuals, said mutual insurers are focusing on efforts to better educate regulators and governments on the needs of mutuals.
Philippe De Ridder, strategic planning and intelligence manager, P&V Group, said insurers that promote staffers principally based on their expertise with insurance matters may run a risk of creating management with skill sets that are too narrow.
Bill McKinney, vice president for strategy and long-term development for Thrivent Financial, said mutual insurers are racing to keep up with a fast-changing insurance environment. One tool is wider adoption of data analytics.
Jeff Kingsley, partner, Goldberg Segalla, said mutual insurers are part of the wave of consolidation affecting the global insurance and reinsurance industries, but must work to help regulators better understand their unique structure.
Mutual insurers at the ICMIF conference said the mutual model can help address many global societal problems, including protection against disasters and sustainability.
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