The second edition of ICMIF’s CEO InSights report analyses the strategic objectives, current challenges and future goals of leaders from 32 cooperative/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 key findings of the report suggest significant achievements by ICMIF members in:
- Growth in profitability, premiums, policyholder numbers, penetration of target market
- Technical capabilities
The report identifies an innovation agenda that is shifting from product innovation, through simplification and automation, to risk mitigation and improved customer experience. It also points to ways of improving the strength and effectiveness of corporate governance structures.
Both internal and external communications challenges are identified: internally, a lack of visibility of leaders, and, externally, a lack of consumer understanding and awareness of the cooperative/mutual difference.
Leadership amongst ICMIF member CEOs interviewed is hallmarked by a predominantly collaborative and inclusive style, with strong emphasis on mutual trust. The ambition of leaders to ensure their organisations are vibrant, rewarding places to work suggests the cooperative/mutual insurance company of the future will be ready to face any challenge.