Mutual Assurance Society is Now Offering Members a Paperless Option
New in 2020, Mutual Assurance is offering our members the option to go paperless for their statements and billing. Our goal is to make our processes greener, both environmentally and financially.
We have estimated that it costs us between $5 and $10 per policy to compile, print, and mail renewals and bills to members. If only 5000 of our policyholders sign up for paperless communications, this would save the Society $25,000 to $50,000 a year.
These savings will be passed along to our members if participation is sufficient to allow for a reduced assessment percentage.
Our members will receive their statements in a timely and more efficient manner. With the ever-increasing popularity of smartphones, more and more policyholders are using their mobile devices for online banking and bill pay, as well as shopping and social media. Even members who handle their finances at home often prefer to manage their money online. Statistics show that nearly four out of five internet-equipped households use online banking and online transactions, which are perceived as more secure thanks to stringent standards.
Policyholders are also more likely to keep on top of their payments with an online billing system, reducing the risk of a lost statement or check in the mail.
We’ve all heard about the carbon footprint we leave as we make our way through the world. Here are some statistics, however, that may motivate you further to cut back on paper use:
- The EPA reports that more than 50% of mail is not recycled and ends up cluttering up homes and contributing to landfills. Here are some other startling statistics when it comes to paper use in North America.
- We use more paper per capita than any other region of the world – roughly 500 pounds per person per year.
- Industrial-scale paper production is the 3rd most energy-intensive manufacturing industry on the planet. And, it is the fourth-largest source of greenhouse gasses in the manufacturing sector.
- In the U.S., the average office worker uses nearly 10,000 sheets of copy paper annually.
- According to the EPA, paper represents up to 27% of all municipal waste throughout the country.
- The amount of paper and wood that Americans throw away is enough to heat more than 50 million homes for the next two decades.
We encourage all of our policyholders to consider going green with us and selecting “Go Paperless” in the member portal: member.mutual-assurance.com