sigma 04/2016 Mutual insurance in the 21st century: back to the future?

| August 2, 2016

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Mutual insurers' share of the overall insurance market increased from 24% of direct premiums written in 2007 to just over 26% in 2014, reversing some of the declines of previous decades. Swiss Re's latest sigma study says. However, the segment faces challenges, including adapting to new risk-based capital requirements and more stringent corporate governance arrangements, which could put some mutuals at a competitive disadvantage. Further, mutual insurers must embrace technological disruption. Exploiting digital technology such as smart analytics and social media should allow mutuals to better serve the interests of their member-owners, while their ownership structure should enable mutuals to keep insurance affordable for some individuals and risks.

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Foresters Financial

Foresters Financial™ is an international financial services provider with a unique history that began in 1874 when we set out to provide access to life insurance for average, working families. More than 140 years later, we provide life insurance, savings, retirement and investment solutions that help families achieve long-term financial health and security.

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