It’s truly a fascinating time in the insurance industry. Generally speaking, we’ve never been an industry accused of ground-breaking ideas or cutting-edge innovations. When we look at other major industries such as retail, banking, manufacturing, one can readily see disruptive success that has fundamentally changed how we interact and conduct our business today. Technology has […]
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No small business owner considers their business small. To them it’s their drive, passion, source of pride, and perhaps most-importantly, their family’s financial well-being. And while larger undertakings have the resources to dedicate towards GDPR compliance, it is small businesses, many times unknowingly, that have the most at stake. That’s why offering Cyber & Privacy […]
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Dominic Santschi, Product Manager Mobility Insurance at Swiss Mobiliar (Switzerland), spoke to ICMIF about the benefits he has gained from being a member of the ICMIF Young Leaders Forum and from attending the 2017 Biennial Conference on the Young Leaders Programme. According to Dominic, the Young Leaders Forum and the Young Leader Programme at the Biennial Conference offer unique opportunities for […]
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As consumers move away from personally owned and operated automobiles, we will see the evolution to a mobility system comprised of driverless vehicles and shared mobility platforms. As this transformation unfolds, insurers will need to change their approach to auto insurance products and services. Auto manufacturers are developing new and innovative solutions and we are […]
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Mark Carney leading the way…. Mark Carney, Governor of the Bank of England, once described climate change perfectly saying that it “imposes costs on future generations that the current one has no direct incentive to fix*” In his more recent ‘A New Horizon’ speech at the European Commission Conference (March 2019), Carney again sounded the […]
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Insurance is a begrudging purchase, generally not wanted, most feeling that they will never use it, or at least hopeful that they will never need to use it. Most people at some level know, but likely give very little thought to, the fact that insurance underpins the world’s economy. The economy’s growth is based primarily […]
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The survival of motor mutuals will depend on their ability to leverage the advantages of their unique ownership model to retain market share, as demand for traditional motor insurance diminishes Arguably, the biggest risk facing the insurance industry over the next 10 years is the emerging business risk to the motor insurance industry, as the […]
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The positive impact of my participation in the ICMIF Biennial Conference in London in 2017 On August 2017, the President of my organisation 1CISP (the Philippines), Roy S. Miclat, recommended that I attend the ICMIF Biennial Conference in October 2017 which was to be held in London (UK). Unanimously, the 1CISP Board of Directors approved […]
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The socio-economic impact of mutual/cooperative insurers is often recognised as a core differentiator for our sector. Their ability to think and behave differently contributes to heightened consumer choice; product and service innovation; fair pricing; and ultimately improved consumer trust. The year 2018 has seen many success stories for our sector but particularly in terms of […]
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Although we live in an increasingly globalised society, insurance and the regulation of insurance remain a long way from the conception of a globalised industry as proposed by Levitt’s 1983 essay, “The Globalization of Markets” (Harvard Business Review), which suggested standardisation and convergence to be essential for successful businesses and markets. Certainly, insurance has relied on […]
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