Martin Shaw, chief executive, Association of Financial Mutuals, said U.K. mutual financial organizations have seen exceptional growth since the global 2008 financial crisis.
Alec Catsuros, senior product manager - digital experience, Thrivent Financial, said consumers have come to expect quick access to products and services, which puts slower-moving insurers at a growing disadvantage.
Nektaria Bessa, administrative and development director, Syneteristiki Insurance, said customers of mutual insurers typically have much in common, but companies must be careful about protecting data or risk losing customer trust.
Anne-Mette Toftegaard, CEO, LB Group (Denmark), said better use of technology is allowing insurers to better identify risks and prevent claims, moving them from a focus on products to a future in which services play larger roles.
Hilde Vernaillen, chairwoman, International Cooperative and Mutual Insurance Federation, said many insurers are limited in their home markets by legacy technology.
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