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Mutual life lessons…

September 26, 2017
September and October are the peak of fall meeting season for the life insurance industry and the fraternal community. And as a result, I have not had much time this week to pull my thoughts together for a cohesive blog post. But last week, I did manage to catch Mass Mutual CEO Roger Crandall on “Squawk Box”, the early morning business news program on CNBC. Here’s a link to it if you haven’t seen it. Pay careful attention to his description on the benefits of the mutual model – sounds almost fraternal to me – and to the investment the firm is making in technology and distribution. While there are only a handful of fraternals that could even dream about the scope of the Mass Mutual infrastructure investments, it does drive home the point that unless your society has the candlepower and financial capacity to devote to these type of activities, the effective life span of your organization is significantly shortened. A harsh message? Yes. But one that every business has to face as it builds it long term strategic plan. Doesn’t do any good to pretend this reality does not exist. What options are your society’s leaders considering – mergers, acquisitions, shared services, etc. – to prepare for it? Post your ideas here.