A new report by the International Cooperative and Mutual Insurance Federation (ICMIF) examines the strategic objectives, current challenges and future goals of leaders from 32 co-operative and mutual insurers around the globe.
CEO InSights 2017 - An era of renewed confidence looks at the developments and outlook in terms of innovation, corporate governance and leadership at the various organisations led by the CEOs interviewed.
The findings of the report suggest significant achievements by ICMIF members in terms of growth in profitability, premiums, policyholder numbers, penetration of target market, technical capabilities and products.
Another tendency identified in the report is a shift from product innovation through simplification and automation to risk mitigation and improved customer experience. The research also suggests ways to improve the strength and effectiveness of corporate governance structures.
The report identifies internal challenges, such as the lack of visibility of leaders, and external ones, such as a lack of consumer understanding and awareness of the co-operative/mutual difference.
For more information on the member-only report ICMIF CEO InSights: An era of renewed confidence, please contact the report's author Faye Lageu, Senior Vice-President, Business Intelligence, ICMIF at Faye@icmif.org.
Photo: ICMIF training session with members