ICMIF

Wonderful to see THE ICMIF FOUNDATION and UNDP’s Insurance and Risk Finance Facility (IRFF) co-host this panel session entitled "The business case for cooperative and mutual models in inclusive insurance" at the International Conference on Inclusive Insurance (ICII) in Nepal last month. It highlighted the critical role of cooperative and mutual microinsurance models in advancing financial protection for underserved communities across Asia and Africa. #ICII2024 #UNDP_ICMIF_IIC #UNDP_IRFF #ICMIF #ICMIF_Foundation #innovation #cooperatives #mutuals #inclusiveinsurance #microinsurance

The UNDP ICMIF Insurance Innovation Challenge Fund (IIC), a partnership between the UNDP Insurance & Risk Finance Facility (IRFF) and THE ICMIF FOUNDATION aims to help mutual and cooperative insurers scale up innovative, affordable and inclusive insurance products which specifically serve the needs of underserved households and/or micro, small and medium-sized enterprises (MSMEs), with a particular focus on women, in developing economies. On 22-23 October 2024, the ICMIF Foundation Microinsurance Committee held 6-month project review sessions with each IIC partner: CIC Insurance Company, CIC INSURANCE MALAWI, SANASA Life Insurance Co. PLC, and MiMAP - in Kathmandu, Nepal during the International Conference on Inclusive Insurance. These meetings focused on assessing six-month progress and addressing challenges unique to each partner. #UNDP_ICMIF_IIC #UNDP_IRFF #ICMIF_Foundation #innovation #cooperatives #mutuals

ICMIF member Thrivent (USA), a membership-owned financial services organisation, has announced it will provide a record USD 564 million payout to its clients in 2025. The total comprises USD 432 million in dividends and USD 132 million in non-guaranteed policy enhancements, which include benefits such as increased credited interest and reduced fees. The total marks a 4% increase from the organisation’s previous record payout in 2024, making 2025 the third consecutive year of Thrivent achieving a new high in total client distributions. Thrivent operates as a mutual organisation with no stockholders, distributing value to clients rather than shareholders. Since 2022, the organisation has leveraged its strong financial performance to achieve a 93% increase in client payouts, rising from USD 292 million in 2022 to USD 564 million in 2025. David Royal, Chief Financial and Investment Officer, credited the organisation’s consistent financial management and focus on client value, saying: “Our three-year streak of record-breaking total payouts reflects Thrivent’s long-term strength and stability, disciplined financial management, and commitment to the financial well-being of our 2.4 million clients." #Mutuality #Mutuals #MemberOwned

Our latest blog is the Chair's report by Rob Wesseling, also President and CEO at Co-operators (Canada), taken from the new ICMIF Member Impact Report which highlights the impact that ICMIF’s member proposition has achieved during the last two years. This new report includes many great testimonials from member organisations and is a great way to learn more about ICMIF and our wide range of services for members which join our global network of 200+ mutual/cooperative insurers. As an organisation, ICMIF provides its members with a distinct opportunity to address common priorities, gain a global perspective, and collaborate on solutions that can both help its members’ grow and also leverage our collective strength to truly make a difference. Given the complexities of today’s global landscape, being part of ICMIF’s community has become increasingly important. As an ICMIF member, you are part of a unique, trusted network of leaders and organisations that lean in to offer their support to help enable better-performing businesses, driven by their purpose and desire to make a meaningful impact. Learn more by reading the blog here: https://lnkd.in/esRdCGZP Access the interactive Member Impact report here: https://lnkd.in/eKuaPdeS #ConnectingMutualsGlobally #OnlyatICMIF #LeadingwithPurpose #ConnectCurateCultivate #mutual #insurance #cooperative #MutualDifference #mutuality #ICMIFConf2024 #Impact #Purpose #CollaboratingwithPurpose

In this guest blog, Dr Ariel Guarco, President of the International Cooperative Alliance (ICA), looks at the history and origins of the first mutual insurers and insurance cooperatives; how the sector has grown through cooperation; and what the future holds for our sector, notably the significance of next year’s International Year of Cooperatives which will spotlight the crucial role of cooperatives in building a more inclusive, sustainable future. Dr Guarco, a leader in the Argentinian cooperative sector, will be a keynote speaker at the upcoming ICMIF Biennial Conference in Buenos Aires (12-16 November 2024). Learn more about the event: https://lnkd.in/eEfgG_D5 #Cooperation #Insurance #Mutuals #Mutuality #Purpose #CollaboratingWithPurpose #ICMIFConf2024

We loved reading the 2024 Impact Report from one of our Canadian Members, The Commonwell Mutual Insurance Group, which showcases the incredible efforts and dedication that everyone there (and their brokers) are putting into fostering community growth and resilience. From aligning insurance products with members' needs to investing in the future of local communities, this report is a wonderful celebration of the mutual insurer's impact. Read the report via the link below! #ImpactReport2024 #CommunityFirst #TogetherWeGrow #CommonwellCares

French ICMIF member MAIF has introduced "Aux Alentours", a free, intuitive tool designed to help citizens assess and protect their homes from climate risks. According to a study by the French Association for the Prevention of Natural and Technological Disasters (AFPCNT), 45% of French homeowners are unaware of the natural risks their homes may face. With the rise in natural disasters, MAIF aims to increase public awareness and encourage action to mitigate the impact of climate hazards. Accessible to all, Aux Alentours combines data from MAIF and open sources and provides users with personalised information about climate and technological risks specific to their homes. By simply entering their postal address, users can learn about local hazards such as flooding, drought and land movement. Beyond simply providing information, Aux Alentours encourages users to take action. The platform offers prevention advice tailored to individual addresses and includes quizzes to test users’ knowledge of natural hazards. For example, users can receive practical tips for minimising the effects of geotechnical drought on their property. “Prevention is essential for the sustainability of the insurance model,” said Romain Liberge, Marketing and Design Director, MAIF (France). “With Aux Alentours, we aim to provide an easy-to-use tool to help people understand the risks to their homes and take action to limit potential consequences.” #Prevention #ClimateChange #ClimateHazards #ClimateRisk #Insurance Thomas Ollivier Stéphane Tisserand Pascal Demurger

ICMIF member Co-operators recently connected with Insurance Business Canada Magazine to discuss how life insurance advisors can connect with #GenZ and #Millennial clients to bridge gaps in their life insurance coverage. Check out the full article here:

ICMIF member Thrivent has set a total payout of $564 million in dividends and policy enhancements to its members in 2025. This payout will mark a three-year streak of delivering record-breaking dividends and non-guaranteed policy enhancements, returning more value to Thrivent clients than ever before.