Mutual insurers at the ICMIF conference said the mutual model can help address many global societal problems, including protection against disasters and sustainability.
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.
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.
Insurers at the biennial conference of the International Cooperative and Mutual Insurance Federation said mutual companies are fighting to build closer relationships with members and to gain understanding from regulators.
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