When any organisation is owned by its policy holders, there’s a mutual benefit – which is why, of course, such organisations are called mutual societies; they’re societies run for the mutual benefit of all members.
When it comes to insurance, a company which has been built on such mutual benefit and which stems from the trade union movement helps give you confidence that it really is being run for the mutual benefit of its members. Such is the case with UIA Insurance.
UIA is a mutual insurance company which has over a century’s worth of experience in providing value insurance to members of both trade unions and not-for-profit organisations. So members of Unison, Unite, CWU, Usdaw, NASUWT, RMT, and the Ramblers’ Association, for example, are all able to benefit from the organisation’s mutual establishment and preferential rates for members.
But the company also provides a wider insurance service than Trade Union Insurance to members of the public hoping to benefit looking to benefit from UIA’s competitive insurance rates. UIA covers such areas as home insurance, travel insurance, pet insurance and car insurance. And because it’s a mutual organisation, it means it is literally owned by its policyholders. This helps UIA keep its insurance premiums to a minimum as there are no private interests and shareholders who expect to receive a regular dividend pay-out, for example. Instead, the “profit” element of the insurance is reinvested back into the company for the mutual benefit of policy holders.
In other words, the company prides itself on providing insurance with principles. It is owned by its policy holders and run for their benefit whilst simultaneously employing highly-trained staff. UIA’s principled approach is reflected in many ways. For example, the company’s customer service team gives customers the time they need when calling for help, advice and quotations. There isn’t the same pressure on staff to keep calls short – and they can deal with all types of enquiry. For many of us such an approach I a welcome relief in a world driven towards profit at any cost.
source: lifeandmyfinances.com
