Q: What are some of the market trends you've seen emerge among mutual insurers in the past year, and how have those trends or challenges been addressed by some of your members?
Mutuals, in an effort to rise above the rest of the crowd, are increasingly emphasizing what makes mutuals different: that without shareholders, mutuals are well positioned to be policyholder-focused. While this is an intuitive and fundamental aspect of mutual insurance, many marketing and brand gurus at member companies have discovered that mutual traits also resonate with customers. And the exciting outcome of this is we've seen several large insurers roll out brand campaigns putting their mutual identity first.
Last fall NAMIC launched the "mutual brand" program, whereby member companies can use professionally created and market-tested advertising resources that help the companies distinguish themselves as a mutual. Today, less than a year since its launch, the brand is being used in 18 states and Canada by nearly 50 companies.
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