Every day, Mutual insurance companies make tactical and strategic decisions to improve their performance, reduce costs, and grow competitiveness. It is critical to have the right information at the right time in order to make the most informed decisions. Navigating...
Given that COVID-19 is triggering rapid worldwide change, carriers need to stay vigilant to ensure that they have the most accurate view of exposure so they may be certain that their policyholders are appropriately insured and are paying appropriate premiums....
Customer Centricity is Accelerating at a Faster Pace Prior to the COVID pandemic, Mutual Insurance carriers had roadmaps in place to address the ease of doing business for their agents and had plans to invest in their digital capabilities during the next few...
Past May Not Be Predictive of the Future “It doesn’t matter if you are wrong, as long as the patterns are consistent.” This is one of the sayings that I heard so many times as a young actuary. The principle is that as long as long-term patterns hold, future...
At the PAMIC Annual Spring Conference in State College, PA last week, there were some outstanding presentations on industry trends. Michael Bond from Hartford Steam Boiler, Joel Hopkins from Saul Ewing Arnstein & Lehr LLP, Andrew Seiffert from BMS, and Special...
The evolution of the Insurtech phenomenon is fascinating. I have had a unique perspective on this progression – for the first 20 years of my career, I worked for large, successful insurance companies that were trying to figure out how to best engage with these...
For companies to fully capitalize on the capabilities that data and analytics can provide them, there are new skills, talent profiles, and positions that need to be available. In a recent Willis Towers Watson survey (see the full survey here), they cite a lack of...
“How well insurers resolve the “synthesis challenge” – interjecting technology, talent and business models into change-resistant legacy environments – may be the biggest success factor for the industry in the next decade.”
Deloitte 2020 Insurance Outlook
The Pennsylvania Association of Mutual Insurance Companies (PAMIC) is a trade association that has proudly represented the Mutual Insurance Industry since 1907.
Our membership comprises some of the most historic companies in the industry, along with new companies who are thriving under the same model.
For more than 120 years NAMIC has been serving in the best interests of mutual insurance companies – large and small – across the United States as well as in Canada. NAMIC membership includes more than 1,400 member companies. The association supports regional and local mutual insurance companies on main streets across America along with many of the country’s largest national insurers. NAMIC member companies write $268 billion in annual premiums and together account for 59 percent of homeowners, 46 percent of automobile, and 29 percent of the business insurance markets.
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