Mutual insurers at the ICMIF conference said the mutual model can help address many global societal problems, including protection against disasters and sustainability.
Monica Woodley of the Economist Group said mutual insurers asked about barriers to innovation responded that their own organizations may be a big barrier in promoting organizational innovation.
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.
Shaun Tarbuck, chief executive, ICMIF, said mutual insurers' future appears bright but will be tied to how well they serve their respective affinity groups.
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.
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