In these Spotlight discussions, we feature the individuals that make up our ecosystem – what they each bring to our community, and what they gain from it.
Shortly after I joined ACU in early 2014, we did a comprehensive review of the University’s insurance coverage. As part of that review, we looked at a number of options. Unimutual stood out because of the vast array of benefits Members enjoy while being part of the Mutual.
We wanted to take advantage of the shared knowledge and experience that comes with being part of Unimutual’s network, as well as its pricing power and superior coverage.
I was keen to join because I recognise just how much the Mutual contributes to the industry. I also wanted to be able to contribute to its further development and expansion, which I knew the Mutual was embarking on, with the appointment of its new Business Development Director.
I believe that I can assist and contribute to the Mutual, by helping to transform the existing Member base into advocates and supporters of the Mutual’s management team as it works toward achieving its business and growth objectives.
As Members of the Mutual, we’re all in the same boat. We’re similar institutions that are all facing similar challenges. My thinking is closely aligned with Unimutual’s philosophy in that I believe in collaboration whenever and wherever possible.
To demonstrate our commitment, we’ve hosted events and participated in seminars. During 2018, our risk manager contributed to the Mutual’s Member webinar series, on developing strategic university risk registers.
I believe there’s a significant benefit, where the Mutual can convene knowledgeable insurance, risk and property leaders and professionals together, and that when you do, it assists those involved to learn, collaborate and improve at a faster rate. We’re certainly committed to doing our part to make that happen.
At ACU, we take risk management and loss control very seriously. That’s one of the reasons why we felt that Unimutual was a great fit and partner for us. Shortly after joining, the Mutual arranged a property review for ACU with AIG to look at the state of our buildings, evacuation plans and more.
The AIG review yielded a list of strategic recommendations to help us better manage risk and prevent loss from fires and other catastrophic events. We have since implemented all of the recommendations, from installing sprinklers on our roofs to changing procedures.
Knowing that we’re now in line with industry best practice lets me sleep better at night. I know that even if an event occurs, we have the right systems in place to minimize the damage and reduce the likelihood of injury.
In a world where “customer-centricity” has become a buzzword, and often only that, mutuals are on another level. The interests between owners and users are congruent in a mutual structure, with aligned purpose and values. Learn the other reasons why being part of a mutual is so beneficial to its members.