Mutual difference

ICMIF’s financial research and analysis shows that ICMIF members have, since 2008, significantly outperformed the rest of the insurance industry in terms of premium growth. Behind that financial success we can identify a wide range of drivers which lie in the unique characteristics of the cooperative/mutual business model, delivering benefits across the entire value chain, throughout each organisation and in the wider community.

The mutual “difference” can determine, for example, the processes by which an organisation meets its members’ protection needs; the service it provides; how it treats its employees; or how its financial performance success is utilised through returns to members; investment in the community; the development of risk reduction programmes and so on.

The mutual difference encapsulates the uniqueness of our sector, the elements that unite ICMIF members whilst at the same time distinguishing them from the rest of the insurance industry. It helps an organisation enhance its business efficiencies; reinforce its ability to withstand market shocks; and reduce its transaction costs. It can also be the hallmark of an organisational culture that promotes inclusivity and equality.


ICMIF members have access to a wealth of member value content through its industry leading Knowledge Hub. Some of the recent best practice offerings include:



The mutual advantage

ICMIF members from around the world present how they leverage their mutual/cooperative difference in order to gain competitive advantage in their market. In each case study, an ICMIF member shares how they embed the mutual/cooperative value proposition within their business strategy to create a positive differentiator from their competitors. Hear different examples of how mutuality makes a difference across various business functions, delivering enhanced value for member-customers and other stakeholders.


CEO panel: Meeting key challenges, building competitive advantage

The longevity of many mutual and cooperative insurance companies suggests that the mutual model is resilient to change. Looking at ways in which they can continue to evolve in order to stay relevant in this fast-changing world, a panel of CEOs from ICMIF member organisations shares how their cooperative/mutual focus delivers insurance with a difference and creates long-term, competitive advantage.



The next generation of mutual talent

As sustainable, socially responsible and high-performing businesses, mutual/cooperative insurers are endowed with the values and characteristics typical of their unique business model which means they are often seen as “employers of choice” for young generations. This research shares practical examples from ICMIF member organisations of a wide range of initiatives and programmes to attract, retain and develop millennial/Gen Z talent and offers suggested approaches for managers wishing to attract and retain the best talent and to help it flourish within their organisations.


New business models for the mutual of the future

Finnish mutual LocalTapiola no longer considers itself an insurance and financial group, but a lifelong security and protection company. LocalTapiola wants to help make the everyday lives of Finnish people safer, healthier and more financially prosperous. As a result of this strategic transition, their operating model now revolves around providing comprehensive, proactive prevention services to safeguard the life and prosperity of their owner-customers. Keeping mutuality at the core of their business – as it has since the 18th century – is key to maintaining a strategic advantage in the future.

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