ICMIF conference to examine importance of Gen Y for mutual and cooperative insurers

Tuesday, 23 February 2016

Generation Y or Gen Y – those born between 1980-2000 - now form the largest generation that we have ever seen in history and last year Gen Y also became the largest generation in our workforces.  According to recent market research* Generation Y will account for 75% of our workforce by 2025.

This week the International Cooperative and Mutual Insurance Federation (ICMIF) has launched details of a unique conference on Gen Y for mutual and cooperative insurers and members of ICMIF. The Why Gen Y? Challenges and opportunities for mutuals conference will look at how to engage with and ultimately sell to Gen Y customers and also how best to engage with a Gen Y workforce.

The two-day event will be hosted by ICMIF member Benenden at the Royal York Hotel in the city of York, UK. This is a “by invitation only” event and places are limited.  The agenda has been compiled with the aim of promoting active exchanges of opinions and animated high level discussions between ICMIF members and early registration is highly recommended.

The topic of Gen Y was a very popular one the ICMIF’s 2015 Biennial Conference when the Winning the hearts and minds of tomorrow’s customers session (pictured right) was given the highest rating of all the sessions during the Conference. Many member organizations requested that ICMIF continue to facilitate these discussions during future events which has led to the launch of the Why Gen Y? Challenges and opportunities for mutuals conference being organized for members now.

Commenting on this unique international event, Shaun Tarbuck, Chief Executive, ICMIF, said: “It is fitting that York will host our first ever Gen Y event. While the city is renowned for its history and culture, it is also a forward-thinking, dynamic hub for young people who want to live, work and learn here.

“Benenden plays a large part in York’s community from its sponsorship at York City FC to engaging with local people in its community programmes. By hosting this important event, Benenden is sending a clear signal about its commitment to its future customers, employees and local community who are young and want to be engaged with Benenden in new and dynamic ways.”

Who should attend?

This is a new event for ICMIF and the aim is to attract senior leaders – CEOs, executive teams and senior management - from mutual and cooperative member organizations who wish to immerse themselves in the issues and the opportunities presented by the Gen Y phenomena. Participants will gain a greater understanding of how to engage with Gen Y as customers and as colleagues.

What value will delegates take back to their businesses?

The agenda will consist of plenary sessions for the first day in which delegates will be invited to examine how insurance can be made relevant to Gen Y; how leadership needs to respond and engage with a Gen Y workforce; and a panel debate between Gen Y young leaders from various ICMIF member organizations will discuss how mutuals and cooperatives can become the business model of choice.

Coffee breaks will include teach-ins for delegates on various social media channels – delivered by Gen Y volunteers.

On the second day, delegates will attend one of three parallel forums where they can choose to further their understanding of how mutuals and cooperatives can best engage with Gen Y, within the context of day one, or move onto looking at the regulatory issues facing the mutual and cooperative sector. The parallel sessions for Day Two will be:

  1. The Communications Leaders Forum: Gen Y marketing and communications
  2. The Regulatory Issues Leaders Forum: Aligning the interests of policy-makers/politicians with those of regulators/supervisors
  3. The Leadership Development Forum: Leading in a Gen Y world

This is a complimentary ICMIF event and member organizations are being encouraged to use this opportunity to bring the relevant members of their teams to the event to consider the topic of Gen Y in depth. Participants will be able to learn from other ICMIF members and Gen Y specialists on how they are tackling the challenges of engaging with this generation and how the mutual and cooperative insurance sector can maximize the opportunities ahead.

Benenden and ICMIF have put together a unique social programme for delegates including a welcome reception, a dinner at the York Castle Museum and a pub quiz in one of York’s most historic pubs.

For more information on this event please contact Yvonne Hautenne, Senior Vice-President, Events, The International Cooperative and Mutual Insurance Federation

* Millennial Consumer Trends Study 2015 by Elite Daily http://elitedaily.com/news/business/elite-daily-millennial-consumer-survey-2015/