Folksam is actively engaging on a national and international level. We cooperate with different interest groups with the purpose of collecting information, monitoring market trends through amongst other networks and working groups.
The benefits of the cooperation are also distributed to the customers in form of product development and/or more efficient routines for example.
Our international commitments
- The aim is to develop professional relations between mutual and cooperative insurers
- Promote the mutual interest globally
- Make sure that the mutual and cooperative interest is taken into account within public authorities
Our main focus organizations
The largest part of our international relations is through AMICE (Association of Mutual Insurers and Insurance Cooperatives in Europe) and ICMIF (International Cooperative and Mutual Insurance Federation). We also have a larger cooperation with Allnation and have signed up with the UN initiative Global compact.
Its prime purpose is to ensure that the voice of the mutual and cooperative insurance sector in Europe is heard and that the interests of its members are taken into account in securing a level playing field for all insurers in Europe regardless of their legal form.
Combining resources and expertise
AMICE provides a platform for mutual and cooperative insurers of all sizes to combine resources and expertise, exchange experiences across national borders and discuss key issues and concerns relating to planned legislative and regulatory changes and developments.
The mutual and cooperative sector accounts for one third of the insurance companies in Europe and close to 25% of premiums. With more than 100 direct members and 1,600 indirect members, AMICE speaks for a significant part of the insurance sector. Folksam is represented in the executive committee, the board of directors and various working groups.
ICMIF – The International Cooperative and Mutual Insurance Federation
ICMIF is a long established and unique global trade association representing cooperative and mutual insurers from around the world. The common bond uniting ICMIF members is that, as cooperatives or mutuals, they place the interest of policyholders/members before those of shareholders, working hard to ensure that they offer the best possible range of affordable products for their customers.
ICMIF aims to promote and work with the cooperative and mutual insurance sector globally by being a leader in providing information and services to members, and representing the interests of, the global cooperative and mutual insurance sector. Working together with the members in this way underpins the Federation’s commitment to providing “a global reach for local strength”.
Representing 1,5 trillion US-Dollars
This individual membership in turn represents over 600 distinct insurance organisations with assets approaching USD 1.5 trillion. Spread across more than 70 countries, these organisations employ over 260,000 people.
A further 2,700 mutual insurers are indirect members of ICMIF through their national mutual trade associations, which would bring ICMIF’s outreach to more than 15% of the global market in insurance. ICMIF can truly claim to be the voice of the world’s cooperative and mutual insurance sector.
Folksam is represented, by the CEO Anders Sundström, in the Executive Committee and he holds the position of vice-chair in the Board of Directors. Folksam is also represented by Charlotte Köhler Lindahl, Director International Affairs, in the Intelligence Committee and the Development Committee.
Allnations, founded in 1966, strives to provide support to developing cooperative and mutual insurance organisations that are facing difficulties in raising capital.
With a comprehensive investment policy in place, overseen by an experienced panel of investment experts, Allnations provides a unique opportunity for larger mutuals and cooperatives to extend a helping hand to their smaller counterparts.
Assistance given is designed to support the recipient companies to become stronger organisations in the future, providing greater benefits to their policyholders as well as ensuring a reasonable rate of return for Allnations Shareholders.
Folksam is represented in the Board of Directors by Charlotte Köhler Lindahl, Director International Affairs.
The UN:s international initiative where many hundreds of companies are working to advance ten universal principles in the areas of human rights, labour, the environment and anti-corruption. The Global Compact is a direct initiative of the Secretary-General Mr Kofi Annan. Folksam signed up in 2002 as the first Swedish Insurance Company.
Folksam and We Effect
The We Effect is a non-profit and non-governmental organization that primarily works in partnership with organizations in developing countries and Eastern Europe. The We Effect aims to contribute to the development of civil society and improved living conditions of the poor.
Folksam and We Effect
Folksam is active in the We Effect. We contribute with financial support and advisors by sharing our experiences. We collaborate with local organizations sharing our values concerning Environmental, equality, agriculture and countryside development. We Effect´s vision is a World free of injustice and poverty.
We have been involved in several projects during the years. One of our strongest partnerships is with the Insurance Company of Kenya (CIC) which we have been developing a microinsuranceproject with in Kenya.
The Bima ya Jamii project in Kenya
Folksam, We Effect and the Cooperative Insurance Company of Kenya (CIC) has together initiated a micro-insurance project. The “Bima ya Jamii” project brings together a consortium of partners to develop, test and roll out quality microinsurance products for the low-income groups.
The consortium consits of Folksam, We Effect, CIC Kenya and NHIF (National Hospital Insurance Fund).
This innovative project was one out of ten receiving grants from the ILO and the Bill & Melinda Gates Foundation.
Full insurance package for under 1 SEK per day
This is a revolutionary comprehensive insurance package for Health, Accidental death and Funeral expenses which also includes loss of income disability benefit. This insurancepackage is available for a entire family for just 1 SEK per day – making it a affordable product.
The Bima ya Jamii projects objectives
- Development objective: To contribute to reduced vulnerability and improved health of poor Kenyans through access to microinsurance.
- Immediate objective: To develope, test and roll out accessible quality microinsurance products for the low-income groups.
Folksams role in the project
Microinsuranceproducts has made a significant difference in underdeveloped countries and Folksam hopes to contribute to the same development in Kenya. Folksam will participate in the advisory board and contribute to the training programs of the associations in becoming efficient and well managed distribution and information centres for micro-insurance They will also provide managerial advice to CIC (The Co-operative Insurance Company of Kenya).
Out of 40 million inhabitants in Kenya only half a million people have insurance. The Bima ya Jamii project helps to provide protection to a larger part of the population. The goal is to reach 200 000 new customers within two years.
We support The Gothenburg Award
Folksam support the Gothenburg Award for Sustainable Development. It´s the city’s international prize that recognizes and supports work towards sustainable development. The first winner was selected in 2000. The award is given each year to people or organisations for outstanding performance and achievements towards a sustainable future. The price is 1 million swedish krona (SEK) and shows what is possible and necessary for a brighter future.
Award winners of 2013
Janine Benyus and Pavan Suhkdev