This is what you’ve been saying all along, Sheltowee. It is fun watching what you say come true. But terrifying. Someday we’ll be standing side by side and looking back at what could have been.
Yes, and how long can all of these “mutuals” deliver 110 combined ratios and stay solvent? They don’t have the pressures of a stock company, and many don’t play by rules of sane and disciplined underwriting either. It will catch up with them.
And where does it say they are all at a 110% combined. The one I work for is a 90% combined through six months of 2009. It has also made underwriting profits for the last 5 years. Not all of us are dumb enough to forget about writing to an underwriting profit.
The mutual company structure is our greatest asset. The carrier I work for has been been in existence for 150 years. We are able to make decisions based on a long term basis, not the quarter-to-quarter-chasing-returns-flavor of-the-day environment that stock carriers operate in. I have worked for both- I prefer the mutual operating structure. When you work for a mutual insurer, you are keenly aware of the carrier’s history. You realize that history will judge you by what you did with the company during your tenure there. You feel a sense of stewardship.
I agree with the survey finding while there appears to be light at the end of the tunnel for some of the mutual companies the challenges of survival remain both for large and small insurance companies. The key will be how efficiently these insurers grow their top and bottom line.
Business process outsourcing (BPO) represents a strategic and efficient option for companies to survive in these tumultuous times. If implemented properly, BPO can be a fast and simple solution to rapidly reduce costs, help organizations survive the economic downturn and set the stage for future growth and expansion after the economic tidal wave subsides.
This is what you’ve been saying all along, Sheltowee. It is fun watching what you say come true. But terrifying. Someday we’ll be standing side by side and looking back at what could have been.
Yes, and how long can all of these “mutuals” deliver 110 combined ratios and stay solvent? They don’t have the pressures of a stock company, and many don’t play by rules of sane and disciplined underwriting either. It will catch up with them.
And where does it say they are all at a 110% combined. The one I work for is a 90% combined through six months of 2009. It has also made underwriting profits for the last 5 years. Not all of us are dumb enough to forget about writing to an underwriting profit.
The mutual company structure is our greatest asset. The carrier I work for has been been in existence for 150 years. We are able to make decisions based on a long term basis, not the quarter-to-quarter-chasing-returns-flavor of-the-day environment that stock carriers operate in. I have worked for both- I prefer the mutual operating structure. When you work for a mutual insurer, you are keenly aware of the carrier’s history. You realize that history will judge you by what you did with the company during your tenure there. You feel a sense of stewardship.
I agree with the survey finding while there appears to be light at the end of the tunnel for some of the mutual companies the challenges of survival remain both for large and small insurance companies. The key will be how efficiently these insurers grow their top and bottom line.
Business process outsourcing (BPO) represents a strategic and efficient option for companies to survive in these tumultuous times. If implemented properly, BPO can be a fast and simple solution to rapidly reduce costs, help organizations survive the economic downturn and set the stage for future growth and expansion after the economic tidal wave subsides.
I invite you to read my blog on this topic. http://www.wns.com/Insights/Blogs/tabid/44163/entryid/61/default.aspx