NU Online News Service, Sept. 22, 9:04 a.m. EST
INDIANAPOLIS—Effective leadership within the membership of the National Association of Mutual Insurance Companies will promote increased success for the association and its members, says the association's new chairman.
In his inaugural address before the membership meeting here for NAMIC's 106th annual convention yesterday, Chairman James Kennedy, president and chief executive officer of Ohio Mutual Insurance Group, based in Bucyrus, Ohio, says leadership and its power to improve an organization will be the central theme for his one-year term.
“Leadership is a subject you are going to hear a lot more of from me over the next year because I firmly believe that every problem we have in our government, our business and in our society has its fundamental root cause in the absence of, or a failure of leadership,” says Kennedy.
The time is now, he continues, “to ratchet up the leadership capabilities within the community of mutual insurers.”
He defines leadership as someone taking the initiative to have influence over a situation because leaders want to take action.
It is also a mindset, he says. “One does not need a title, a position or a spot on a roster to want to take action and make change.”
The easiest way to understand the power of leadership is by examining where leadership failed, says Kennedy.
For example, with the Enron debacle and Bernie Madoff's Ponzi scheme, Kennedy says the failure of leadership was the day they forgot their mission. He believes they did not start off their career's intending to “have such a negative effect” on society.
However, he says, they “lost their mission, misplaced their values; they forgot what they were all about.”
NAMIC's vision of leadership is to aspire to pull “us forward every day,” and to “provide positive contributions to society” through a sound and ethical insurance industry.
These values, he says, hold mutual insurance companies together and point NAMIC's members in a direction to have a positive impact in the areas they serve.
Because NAMIC members seek to hold to these high ethical values, they will not fall into the kind of moral failures Enron and Madoff fell into, Kennedy says.
He says he plans to take this message around the country and expand on it in the coming months to other members.
Kennedy refers to Immediate Past-Chairman Sandra G. Parrillo, president and CEO of The Providence Mutual Fire Insurance Co., and her leadership skills during her one-year term.
“She demonstrated her vision, her mission and values with great passion,” says Kennedy. “She never forgot the mission of NAMIC and she never let the rest of us forget it either.”
He also offers an observation from Warren Buffet about mutual insurers, who said that mutual companies combine “a strong corporate personality and a great culture; and they work miracles every day.”
Kennedy says that if mutual insurers “hang together with one collective voice and think like leaders” focused on their vision, mission, and values “then I am firmly convinced that there is nothing that we cannot accomplish.”
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.