Latest News

Friday, 24 May 2019

Nexus mutual have launched with their first product, smart contract cover, this week. Members of the digital cooperative will be able to buy protection against smart contract failure including the key DeFi smart contracts. This is the first of its kind and Nexus says the cover will protect users from losing their funds due to bugs while also allowing developers to deploy contracts with greater confidence.

Nexus Mutual says it is building a decentralised alternative to insurance. Nexus will use blockchain technology to build a mutual (a risk sharing pool) to “return the power of insurance to...

Thursday, 23 May 2019

The sixth session of the Global Platform for Disaster Risk Reduction took place from 13 to 17 May 2019 in Geneva, Switzerland. It was co-chaired by Mr. Manuel Sager, State Secretary, Government of Switzerland, and Ms. Mami Mizutori, the United Nations Special Representative of the Secretary-General for Disaster Risk Reduction. Participants attended from 182 countries.

The Global Platform for Disaster Risk Reduction is a biennial multi-stakeholder forum established by the UN General Assembly to review progress, share knowledge and discuss the latest developments and trends in reducing disaster risk.

It is hoped that the...

Wednesday, 22 May 2019

The International Cooperative and Mutual Insurance Federation (ICMIF) has today announced that the first keynote speaker for the ICMIF Biennial Conference 2019 (12-15 November 2019, Auckland, New Zealand) will be Ross Dawson, a globally recognised leading futurist, strategy advisor, and bestselling author who will speak on the topic of “Opportunities for mutual value creation”.

Opportunities for mutual value creation

The world is rapidly evolving, disrupting existing structures and institutions but also enabling extraordinary new possibilities. Technology is changing the nature of customer relationships and enabling new...

Friday, 17 May 2019

Puerto Rican ICMIF member Seguros Múltiples has launched an express service for members to help to facilitate the claims process after an accident.

With the aim of providing greater agility and convenience to its customers, the Cooperativa de Seguros Múltiples has integrated its offerings with an “Express Service” that promises to facilitate the process of claiming compulsory insurance after a car accident.

The Vice President of Sales and Marketing of the Cooperativa de Seguros Múltiples, Edwin Lugo, explained that the new service will allow its members to start the processing of a claim from the location of the accident...

Friday, 10 May 2019

As part of its commitment to help build more resilient, healthy and sustainable communities across Canada, ICMIF member The Co-operators has renewed its partnership with charitable organisation Working for Change, donating a total of CAD 90,000 over three years to support employment and training opportunities for people marginalised by mental health issues. This announcement came during Mental Health Awareness Week in Canada (6-12 May 2019).

Working for Change, located in Toronto, operates five social enterprises, including the two cafes, both of which are situated in the Centre for Addiction and Mental Health (CAMH) buildings....

Thursday, 09 May 2019

German ICMIF member R+V Versicherung has collaborated with Friendsurance Business to jointly developing a digital bancassurance solution as a service for members of the 875 cooperative banks in Germany which make up the Volksbanken Raiffeisenbanken group. R+V Versicherung forms part of the group and is the insurance provider within Volksbanken Raiffeisenbanken.

The VR-Versicherungsmanager app is based on a modular platform from Friendsurance Business. The product will kick off later this month (May 2019) with six pilot banks and then be expanded successively thereafter. The goal is to offer the digital insurance manager to almost...

Friday, 03 May 2019

Danish ICMIF member LB Forsikring has today announced a strategic partnership with Denmark's largest commercial customer-owned pension company PFA which, among other things, means that PFA’s customers will be given the opportunity to take out private, non-life insurance with LB Forsikring. Common values and comparable business models have been key to the establishment of the partnership, which will take effect on 1 January 2020.

“We are very pleased to enter into this partnership. It is of great importance to us that PFA is owned by its customers and that PFA's set of values is very similar to ours. For LB Forsikring, it is all...

Wednesday, 01 May 2019

A group of leading US CFOs have this month announced the launch of the first US Chapter of the global A4S Chief Financial Leadership Network. This prestigious group includes Warren Zaccaro, CFO of ICMIF member Securian Financial.

Established by the Prince's Accounting for Sustainability Project (A4S), a nonprofit founded by HRH The Prince of Wales in 2004, this collaborative Network helps business leaders integrate sustainability and solutions to social and environmental challenges into core strategy and business processes.

Speaking about Securian Financial’s involvement in the new US A4S chapter, Warren Zaccaro said: “One...

Thursday, 25 April 2019

According to the latest Reinsurance Market Report from ICMIF Supporting Member Willis Re, total capital dedicated to the global reinsurance industry measured USD 462 billion at year-end 2018. The largest component of this figure is the total shareholders’ equity of the 32 reinsurance companies tracked in the Willis Reinsurance Index1 which was down 10% to USD 335.7 billion, reversing growth of 8% in 2017. The second largest component is alternative capital which, in contrast to Index capital, grew by 6%.

Index capital reduced by USD 13.7 billion due to the exits of Validus and XL Catlin through M&A. Companies paid out the...

Thursday, 25 April 2019

Nearly 300,000 previously uninsured people from low-income and disadvantaged communities in India are now protected with a health or life microinsurance policy by ICMIF Indian member the DHAN Foundation.

This is a result of the DHAN Foundation’s project under the ICMIF 5-5-5 Mutual Microinsurance Strategy (the “5-5-5”), which launched in April in 2017. Through its partnership with ICMIF, the DHAN Foundation aims to cover an additional 1 million lives with either a health, life or livestock mutual microinsurance policy over a period of five years.

Mr M P Vasimalai, Executive Director of the DHAN Foundation, said: “I am...