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