Case study

Marketing mutuality: Thrivent (USA)

Key facts

Legal structure: fraternal benefit society

Affinity group: Christians

ICMIF Global 500 ranking: 48

Key products: fixed and variable life insurance, variable annuity, fixed indexed annuity, and fixed-rate annuity contracts, non-life products

Distribution channels: career financial professionals, hybrid Registered Investment Advisor (RIA) platform, licensed employee financial representatives

Number of employees: more than 3,500
Number of financial professionals: more than 2,500

thrivent-logo-1

Context

Thrivent was established in 1902 to serve the life insurance needs of Lutheran Christians. As a fraternal benefit society, Thrivent is required to have a common bond. Until 2013, Thrivent’s common bond was Lutheranism. In 2013, its membership voted to extend its common bond beyond Lutherans to include Christians. Thrivent serves clients in the USA.

Thrivent exists to help its clients achieve financial clarity, enabling lives of meaning and gratitude. It’s a unique kind of membership organisation called a fraternal benefit society. By definition, a fraternal benefit society is a not-for-profit organisation that provides insurance to its members and – this is key – has to carry out social, intellectual, educational, charitable, benevolent, moral, fraternal, patriotic or religious purposes for the benefit of its members and the public. So, Thrivent does not simply sell insurance, and they don’t simply provide social good, either. As a fraternal benefit society, they do both.

Over time, Thrivent has added other financial products and solutions to its product suite, although its core business remains life, health and annuity products. As a diversified financial services organisation, Thrivent offers advice, investments, insurance, banking and generosity to its more than 2.3 million clients.

Today, Thrivent is a Fortune 500 diversified financial services organisation and a highly respected life insurer.

Purpose

We believe humanity thrives when people make the most of all they’ve been given.

Promise

At Thrivent, we help people achieve financial clarity, enabling lives of meaning and gratitude.

Proposition

As a purpose-driven, membership-owned organisation Thrivent’s proposition is:

With over 100 years of experience, we can help you confidently plan your financial future.

From providing for your family’s future to giving back to your community, our expertise and thoughtful, purpose-based guidance can help you care for what (and who) matters most in your life.

Other financial service companies answer to their shareholders. We answer to you.

With our unique structure and perspective, we’re on your side — advocating for you and helping you navigate your financial future. You can feel confident that you have a partner who prioritizes your needs and values. Now and in the future.

We build relationships based on transparency. And relevance.

Whether it’s choosing insurance or the right investment, our transparent focus starts with you and your goals. We respect you and your time, sharing what you need to know, bringing you relevant and meaningful advice

Slogans and taglines

Thrive with Purpose™

On 1 June 2020, Thrivent launched a new brand to reflect its purpose and promise to clients as part of its ongoing transformation as an organisation. The new brand is intended to fuel growth and relevance among a new generation of clients and show how Thrivent is a truly unique financial services organisation.

Visit the Welcome to Our New Brand website

Thrivent’s new brand reflects its fundamental purpose as an organisation: “We believe humanity thrives when people make the most of all they’ve been given,” says Thrivent.

Thrivent has also refined its promise to clients: “We’re here to help you achieve financial clarity, enabling lives full of meaning and gratitude.”

Thrivent’s purpose and promise have guided its new brand expression. This includes a new logo design and redesigned website, engaging with clients in a holistic, appealing, and digital-first way, today – and in the future. Thrivent debuted a national advertising campaign during the summer of 2020 across television, print, digital and other channels to introduce the organisation to a new generation.

“Thrive with Purpose” is incorporated throughout the campaign. The idea highlights Thrivent’s unique approach to helping clients build a financial strategy that allows them to use money as a tool to focus on their priorities and goals – to make purposeful financial decisions that reflect their values and pave the way for a future that is clearer and more meaningful.

“Brand, however, is much more than a logo. It will encompass everything you see, hear and feel when clients – and those new to Thrivent – interact with us. We are transforming the way we do business to ensure the experiences clients have with Thrivent are better than ever before – from a redesigned website, to new digital tools and streamlined processes that will make things easy for our clients.”

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More information

Should you wish to learn more about any of the case studies in this report or discuss the thinking behind any of these examples, please contact ICMIF and we will connect you with the relevant people at the member organisation in question.

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