PRESS RELEASE ON 27 JANUARY 2009
The society has limited knowledge of the mutual company form, and therefore customer-owners, personnel, media and interest groups should receive more and explicit information on mutuality. The Mutuality Examining Committee which is comprised of representatives for Tapiola customers assessed how mutuality was realized in the Tapiola Group in 2008. The committee states that Tapiola Group is the largest mutual insurance and financial group in Finland and therefore wants to promote mutuality.
In mutual companies the customer is also a joint owner, that is a customer-owner, entitled to affect the company’s business and benefit from its result. According to the committee, herein lies the strength of mutual companies. Mutual companies do not have external investors demanding profitable shares and therefore mutuality forms a strong basis for stable and long-term business. During the past years, Tapiola’s business has developed steadily and the customer bonus programme Omaetu is Tapiolas channel for distributing good results to the customers.
The committee recommends that information on mutuality should be increased and clarified and the benefits brought out.
– By efficient business the group can offer good benefits to its customers. Customers expect quality service and reasonable prices. More information also increases customers’ possibilities to contribute to product and service development, Chairman of the Mutuality Examining Committee Sampsa Saralehto states.
According to the committee, customer needs have already been taken into account in products and services. For example regular insurance and financial checks are of great significance for both corporate and private customers. The committee also states that services offered by cooperation partners are important as a complement to Tapiola’s services. However, by increasing communications customers’ can play an even bigger role in product development.
Mutuality Gives Competitive Edge
Tapiola is a nation-wide operator with service outlets on 160 localities, a wide agent network and versatile online services. The group is able to develop services from a customer perspective. According to the committee, modern mutuality and responsible values differentiate Tapiola from its competitors.
The committee acknowledges Tapiola for its activity in the supervision of interest of mutual companies in EU, where the focus has lied on juridical questions in order to enable mutual companies to compete with limited companies on equal terms. The committee states that international cooperation generates best practices which can be used for the benefit of Tapiola’s customers.
Mutuality Examining Committee is Independent
The Mutuality Examining Committee assessed seven areas on the basis of how mutuality has been realized from a customer, personnel and competitive perspective. The Committee of six members is independent and has received all aid and information required for the assessment. Development proposals have been discussed by the advisory committees and the Boards of Directors at the end of 2008.
Additional Information
Arto Jurttila, Group Director
Tapiola Group
09-453 2151
Mutuality Examining Committee 2007-2008
Sampsa Saralehto, Chairman
Deputy Managing Director, Helsinki Region Chamber of Commerce
Helsinki Metropolitan Area
Esa Hasu, Financial Manager, Kymenlaakson Sähkö Oy
South-Eastern Finland
Timo Junnila, Manager, ProAgria Satakunta
South-Western Finland
Taija Jurmu, Representative, Lawyer, Lappi Chamber of Commerce
Northern Finland
Risto Palokangas, Manager, Keski-Suomen ympäristökeskus
Western Finland
Jorma Turunen, Municipal Manager, Kesälahti Municipal
Eastern Finland