The Mutual Brand: “Shared Purpose. Mutual Values.”®
In an age where consumers are increasingly skeptical about companies seeking their business, mutual insurers have long offered a different kind of choice to policyholders. Because they don’t have shareholders, mutuals can put the interests of policyholders first. That is the essence of the first-ever mutual brand, created in 2012 to help NAMIC members differentiate themselves in the marketplace.
A full service brand program licenses participating companies to use a wide variety of customizable, turnkey media resources: print, radio, TV, web, direct mail, and outdoor. Extensive market research was conducted as a part of the brand’s development, and drove the creative process to ensure the brand would resonate with target demographics.
Announcing a new chapter in the history of mutual insurance, NAMIC President and CEO Charles Chamness used the association’s annual convention to launch what he termed “a whole new way of getting the world to see us as mutual.” “What a mutual insurer offers is not just another commodity and not just another transaction. Mutual insurers are different. And because we are different, we can – if we choose – differentiate ourselves and build greater loyalty among our existing policyholders and attract new ones,” he told the convention audience.
Chamness said the mutual insurer’s sole focus of serving policyholders and the ability to make decisions not on a quarterly basis but with a long-term view “actually makes us stronger, enabling us to deliver on the promises we make to our policyholders.”
“Because we are not owned by investors, we exist solely to meet the needs of our policyholders. In fact, our policyholders are more than just policyholders; they are members of the mutual,” he said. “And people who are members of an organization have more trust in the organization than those who simply buy a product from a company.”
NAMIC has registered the new mutual brand for trademark protection and has copyrighted the brand’s key marketing messages and components. NAMIC Public Affairs managed the development of the brand and directs the program’s activities.