Several members of the International Cooperative and Mutual Insurance Federation (ICMIF) have recently shared their plans to partner with technology and artificial intelligence projects.
In Denmark, two ICMIF members, GF Forsikring and LB Forsikring, are teaming up to invest in Gensam, an IT and service company focused on the insurance sector. This partnership also includes Himmerland Forsikring, which is already a part of Gensam. Together, they aim to create a shared ownership model for Gensam, establishing a common IT platform that will benefit all three member-owned insurers, who collectively serve over one million members in Denmark.
As part of the agreement, GF Forsikring and LB Forsikring will each own 45% of Gensam, while Himmerland Forsikring will hold the remaining 10%. This transaction is pending approval from relevant authorities. The goal behind this investment is to develop a robust long-term IT solution that can help the companies enhance their insurance services through digital transformation, increased efficiency, and reduced operational costs. GF Forsikring and LB Forsikring plan to transition to the Gensam platform within the next five years.
The member companies see this collaboration not just as a way to enhance their technology but also as a means to invest in modern advancements, including data analytics and artificial intelligence. “Our cooperation strengthens us and demonstrates the value of collaboration among member-owned companies, even when we compete daily,” said Jan Kamp Justesen, the CEO of LB Forsikring. He added that investing in technology is becoming increasingly vital, making scale a significant competitive factor.
In France, insurance mutual Maif has embarked on three partnerships with technology firms Mistral AI, Scaleway, and Diabolocom to modernize its IT systems and explore new AI applications. Maif aims for these collaborations to enhance member experiences, boost operational efficiency, and secure its digital infrastructure.
These partnerships will tackle different tech areas. With Mistral AI, Maif is working on new generative AI applications to support its advisors and improve service to members. They will also explore further use cases for AI throughout their business. The partnership with Scaleway, a European cloud provider, focuses on developing Maif’s cloud infrastructure for AI applications and ensuring digital ownership. The collaboration with Diabolocom will modernize how Maif interacts with its members, creating a unified view of these interactions for more personalized service.
Nicolas Siegler, Maif’s deputy CEO in charge of IT, stated that these partnerships align with the mutual’s goal of blending technology with sovereignty to create secure and efficient services for members.
Meanwhile, in the United States, Lititz Mutual Insurance Company is using AI technology from Guidewire ProNavigator to assist its employees and independent agents in their underwriting and claims processes. Based in Pennsylvania, Lititz Mutual aims to provide quick answers rooted in company policies and expert knowledge, streamlining information access without the tedious search through documents.
“We see AI as a way to empower our employees and agents by integrating reliable information into their workflows,” mentioned President and CEO Henry Gibbel. This technology is anticipated to lessen administrative burdens and improve information retrieval while maintaining security standards. Lititz Mutual views this implementation as the first step toward broader AI capabilities in future interactions with agents and customers.
(Main image: CEOs Mark Palmberg of GF Forsikring, Christian Borregaard Vejling of Himmerland Forsikring, and Jan Kamp Justesen of LB Forsikring.)
