Maintaining the Co-operative difference
A Co-operative Insurance Society case study

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Page 3: A changing market

Co Operative Insurance Society 2 Image 4To understand the reasons why organisations may want to de-mutualise, it is necessary to know something of the changes that are occurring in the overall market. The key impetus in the 1980’s and 90’s has been the battle for the customer. Access to existing and new customers and the ability to sell them a range of products and services to keep out competitors has been the name of the game. It is important not only to attract customers, but also to keep them.

Application of technology, through companies being able to hold and quickly access larger amounts of customer information, continues to have a major impact, both in bringing about more competition and in providing new companies with easier access to the market.

The UK industry has one of the most heavily regulated systems in the world, meaning consumers are well-protected but causing companies’ costs to rise as a result of the need to provide more information and commit more resources to employee training. In order to keep up with these market changes, there are two main issues which mutuals as well as plc’s must address:

  • The impact of mass marketing
  • The size of an organisation

Co-operative Insurance Society | Maintaining the Co-operative difference