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.
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.
Shaun Tarbuck, chief executive, ICMIF, said mutual insurers' future appears bright but will be tied to how well they serve their respective affinity groups.
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.
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