On Wednesday 30 August 2023, the ICMIF Secretariat was delighted to welcome new member the National Credit Union Federation of Korea – NACUFOK – to the Federation’s headquarters in Manchester (UK).
This was an opportunity for Jae Geun Song (above left), President & CEO, Credit & Insurance, NACUFOK and other representatives of his organisation to meet key members of the ICMIF team. On hand to welcome the visitors from the Republic of Korea were Vanessa Smith (above right), Senior Vice-President, Operations; Ben Telfer, Senior Vice-President, Membership and Vicky Hughes, Vice-President, Membership.
All new ICMIF members are welcomed with an onboarding session which may be face to face if logistics permit or a virtual meeting if that suits each group of participants better. This is a chance for the new member to learn about the many services, products and information available as part of their membership of the global federation. The meeting is also a chance for the team at ICMIF to understand more about the strategic priorities of the member company and then be able to offer a more tailored service to meet those needs and support the insurer in meeting its strategic goals.
A signing ceremony is a traditional and well-respected occasion in the Republic of Korea and both ICMIF and NACUFOK were very keen to keep up this tradition whilst having the opportunity for both companies to present an overview of their business and for NACUFOK to explain how they wish to leverage their membership of ICMIF.
In addition to welcoming the President and CEO of NACUFOK, the ICMIF team also welcomed: Beom Soo Kang, Head of Mutual Insurance Planning Division; Jung Su Lee, Team Manager, Mutual Insurance Planning Team; and Na Yeon Kwon, Junior Chief, Mutual Insurance Planning Team.
The representatives from ICMIF shared information on the many benefits of having joined the global membership organisation for mutual and cooperative insurers around the world. This was also a chance to explain that, unlike many other insurance trade bodies/associations, ICMIF’s mission is to work with its member companies to assist and inspire them to achieve their strategic goals and sustainably grow in their local markets by leveraging the knowledge, competencies and experience of our diverse global membership.
Liz Green, CEO Designate, ICMIF spoke of the visit saying: “We are delighted that NACUFOK has joined ICMIF and that these important representatives of the organisation were able to visit us in Manchester so that each party could gain a greater understanding of each other’s business and what each has to offer its members. Thank you to Jae Geun Song and his colleagues for their time and enthusiasm. It was our great pleasure to learn more about their organisation.”
Jae Geun Song, President & CEO, Credit & Insurance, NACUFOK said: “These days, external risk factors – such as natural disasters due to rapid climate change and entrance into an aging society – are emerging as important issues in the mutual insurance industry. As a member of ICMIF, we look forward to forming a global network with cooperative and mutual insurers around the world to develop an effective measure for protection, and play a role as a cooperative union in pursuing public interest.”
Focusing on the key areas of mutuality, sustainability and business transformation, ICMIF provides unique strategic value to its 200+ member companies across 60 countries through a range of networking events, virtual networks, on-demand resources and research, leadership development and reinsurance activities.
Our membership proposition aims to:
- Connect innovative and purpose-led insurance organisations to exchange and collaborate in a trusted and non-compete environment;
- Curate strategic best-practice and business intelligence to help organisations gain a competitive advantage;
- Cultivate the knowledge and capabilities needed by leaders to navigate the future.
