Latest News

Thursday, 02 August 2018

An Indian member of International Cooperative and Mutual Insurance Federation’s (ICMIF), The Development of Humane Action (DHAN) Foundation, has successfully been able to provide mutual microinsurance protection to 200,773 previously uninsured people from poor communities in India in the first year of their project under the ICMIF 5-5-5 Mutual Microinsurance Strategy.

The project with the DHAN Foundation first launched in April 2017. Through its partnership with ICMIF, the DHAN Foundation aims to cover an additional 1.07 million people through mutual microinsurance across 152 federations[AG1]  over the next five years.

Tuesday, 31 July 2018

It is with great pleasure that the ICMIF Asia and Oceania Association (AOA) invites its members to attend the AOA Seminar 2018 in Hong Kong. This seminar is for executives, managers, and staff members of AOA member organisations. This year’s seminar will take place on 6 & 7 December in Kowloon, Hong Kong, hosted by ICMIF member Asia Affinity Holdings Limited.

The seminar is held once every two years for the benefit of cooperative and mutual insurers in the Asia and Oceania region. The theme of this year is “Impact of digital innovation on the strategies of our sector”. The influence that the...

Tuesday, 31 July 2018

ICMIF Supporting Member, A.M. Best will hold its annual Reinsurance Market Briefing at the 2018 Rendez-Vous de Septembre in Monte Carlo (Monaco). The briefing will be held at the Hermitage Hotel, Square Beaumarchais, Monte Carlo in the Salle Eiffel II on Sunday 9 September at 10.15 a.m. CEST. All ICMIF members are welcome to attend the briefing.

A.M. Best’s annual Reinsurance Market Briefing at the Rendez-Vous is seen as a leading, open-invitation market presentation event. The briefing is a unique opportunity for ICMIF members who wish to attend to gain reinsurance market insight and opinion ahead of busy bilateral meeting...

Monday, 30 July 2018

With the 2017 losses slowly fading in the rear-view mirror, the ILS market is roaring forward through the first half of 2018. Cat bond issuance is at or near record levels, and non-life ILS assets under management (AUM) continue to grow. Where might the road lead? asks the latest Willis Towers Watson and Willis Re  ILS Market Update report.

Drivers of change

Before getting to some possible answers, the report looks at what is driving the market’s continued success. The first obvious answer, according to the report, is that ceding insurers and reinsurers want to have more risk transfer options at a better cost, and ILS...

Monday, 30 July 2018

Between 25 May and 14 June 2018, hailstorms and heavy rain raged across large areas of France and caused a great deal of damage. These challenging weather events were notable for a number of reasons. Their duration, the extent of the geographical area affected and the extensive range of damage that they caused.

At the beginning of July, insurers in France had recorded 214,000 claims, with an estimated cost of EUR 430 million*.

According to the French Insurance Federation, the claims arose from damage caused by the hail and the rain to homes, vehicles and business assets. The nature of the damage was very varied: floods,...

Thursday, 26 July 2018

“Orange Health” is a new health and fitness programme developed by ICMIF member NTUC income (Income) in Singapore. The programme is designed to help Income’s members increase their awareness of their wellness holistically. Developed by Income, Orange Health, which is housed in the Income Insurance app, empowers members who are covered by an IncomeShield policy to record their lifestyle in four areas – sleep, steps, diet and workout – and to be rewarded for proactively keeping healthy and active.

A holistic approach to health – even rewarding those who record sufficient sleep

According to the World...

Wednesday, 25 July 2018

Bas Lavalaye of Achmea, a Netherlands-based member of the International Cooperative and Mutual Insurance Federation (ICMIF), took part in a Technical Assistance assignment for the Development of Humane Action (DHAN) Foundation (India) through the ICMIF 5-5-5 Mutual Microinsurance Strategy earlier this year. In a new video from the ICMIF Communications Team, Bas has spoken about his time in India and how he found it to be a particularly enriching experience.

Bas, a Finance and Control Manager, visited DHAN Foundation’s offices in Madurai (India) for two weeks in April 2018 to conduct the assignment. The purpose of Bas’s trip was to...

Tuesday, 24 July 2018

This year Argentina holds the presidency of the G20 and, thanks to the growing recognition of insurance as a social protection mechanism to promote financial and economic stability and growth, there will be an Insurance Forum take place this year for the first time ever at a G20 Summit. The G20 Insurance Forum will take place in September 2018 in Bariloche, Patagonia (Argentina).

Personally convinced of the positive role of insurance, Juan Pazo, Superintendent of Insurance for Argentina, worked hard to convince his government and G20 leaders that a specific event dedicated to insurance should be organised. Since then ICMIF and the...

Monday, 23 July 2018

How does the process of innovation work in mutual/cooperative insurance companies in other countries? Nadine Anemüller, Head of International Cooperation and the Future Workshop at German ICMIF member DEVK Versicherungen (DEVK) was keen to find out and so, earlier this year, she invited representatives from Danish ICMIF member the LB Group to visit DEVK’s headquarters in Germany so that they could share their experiences and methods of innovation at their respective organisations. The team at DEVK learned about the great importance that the LB Group attaches to the opinions of their member policyholders and whenever the Danes come up...

Friday, 20 July 2018

Canadian ICMIF member The Co-operators has formed an innovative partnership to create solutions that address unmet insurance needs in the fast-evolving, digital economy.

The Co-operators, together with award-winning insurtech business partner Slice Labs Inc. (Slice), announced this week that they have signed an exclusive agreement to leverage the Slice Insurance Cloud Services™ (ICS) platform to launch The Co-operators new digital insurance brand in Canada.

In an exclusive arrangement with Slice ICS, The Co-operators will create new insurance products to meet growing customer needs for easy, on-demand insurance solutions...