Mutual insurers at the ICMIF conference said the mutual model can help address many global societal problems, including protection against disasters and sustainability.
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.
Nick Shufro, director, sustainable business solutions, PwC said his organization is working with the insurance community to focus on better withstanding disasters and strengthening insurance coverage.
Daniel Grieger, managing partner, Twelve Capital, said new regulations in Europe and elsewhere have stifled bank lending to insurers, forcing them to explore new sources of lending and reinsurance arrangements.
Shaun Tarbuck, chief executive, ICMIF, said mutual insurers' future appears bright but will be tied to how well they serve their respective affinity groups.
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