The results of groundbreaking international studies will be revealed for the first time at the 2012 International Summit of Cooperatives being held in Quebec City, Canada, from October 8 to 11.
These studies document and expand on what we know about cooperatives and mutuals in economic and business terms. Very few studies have been done on the cooperative movement, and this research establishes historic milestones in the quantitative and qualitative analysis of cooperatives and their impact on the global economy. The studies will help demonstrate that this model is a solid, reliable solution to current and future crises.
The interest in the cooperative business model has grown due to the financial and economic turmoil experienced in recent years and the realization that cooperatives are remarkably resilient in hard times. Recent ICMIF research shows that the cooperative and mutual insurance sector has outperformed the market in recent years. ICMIF members represent 6% of the global insurance market. The mutual and cooperative model is the fastest growing part of the global insurance market. Our research shows our market share has grown from 22.5% in 2007 to 26% in 2010.
Six research groups in total will be presenting their results. Here are details of just three of these research groups and the studies they will be releasing during the Summit:
Major global trends, issues and challenges facing cooperatives and mutuals
This study identifies the trends most likely to affect the sectors of the economy where cooperatives are particularly active. The study will outline how the competitive landscape could evolve in the next five to ten years. It will show how those changes could impact cooperatives’ product offering and positioning in terms of competitiveness and how the cooperative movement could benefit from it.
Development strategies for cooperatives and mutuals
The study focuses on three drivers of growth: market share gains, portfolio positioning and mergers and acquisitions, to determine the winning practices that help promote cooperative development and identify challenges.
Best management practices of cooperatives and mutuals
Based on the Organizational Health Index methodology and interviews with more than 50 cooperatives, the study identifies the best management practices by analyzing nine organizational processes: governance and management, coordination and control, managerial leadership, accountability, employee motivation, culture and climate, talent management, innovation and commitment to stakeholders.
Productivity, financing and capitalization of cooperatives
An exclusive survey of CFOs that examines the impacts of the 2008 global financial crisis and determines the key factors underlying capital requirements. It also aims to define the challenges related to capital structure for cooperative organizations and identify the solutions being used. The objective is to assess the impact of the changes to accounting standards (IFRS) and regulations governing the banking and insurance sectors (Basel III, Solvency II).
Socio-economic impact of cooperatives and mutuals around the world
The objective of this study is to measure the socio-economic impact of cooperatives around the world and their contribution toward improving the global economy. This study will provide a better understanding of the success and challenges of this business model by exploring how its cooperative identity contributes to both.