Liberty Mutual Group is the third-largest property and casualty insurance company in the United States. Liberty Mutual was established in 1912 and is based in Boston, Massachusetts and has branches across the globe in over 900 locations. They have multiple insurance products, including personal automobile insurance, homeowners, worker’s compensation, commercial automobile, and general liability insurance. Liberty Mutual aims at providing competitively-priced insurance products. Over a period of time, Liberty Mutual has introduced some innovative products that suit the variegated end-user requirement.
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Liberty Mutual Mission Statement
Liberty Mutual mission statement is not clearly stated on its website. However, the website LibertyMutual.com does state that “Since 1912, we at Liberty Mutual Insurance have committed ourselves to providing broad, useful and competitively-priced insurance products and services to meet our customers’ ever-changing needs.”
Further, the LibertyMutualGroup.com website states, “We believe progress happens when people feel secure.”
According to these statements, it is clear that the company’s goal is to offer security to people through its insurance products. Affordability is yet another goal of the company and suggests that it wants more and more people to choose insurance cover according to their needs. The company offers a variety of insurance products that range from personal insurance, automobile insurance and homeowners’ insurance to workers compensation, property insurance, general liability insurance and more.
As part of Corporate Sustainability, Liberty Mutual states, “Guided by our purpose to help people embrace today and confidently pursue tomorrow, we are well-positioned to address environmental and social challenges and deliver security for employees, customers, businesses, communities and the environment.”
As one of the world’s largest property and casualty insurers, Liberty Mutual believes that insurance is a socially responsible product that offers security to people and their businesses. The above statement also suggests that the company exists not just for profitability but also aims to help people and businesses feel secure through insurance cover so that they can face life with confidence.
It also values the security of its employees and works suitably for them. Liberty Mutual is committed to developing a workspace where people from different backgrounds can work and thrive. The company does not stop at this. It has a keen desire to work for the environment and the community so that even the planet we live on is safe and secure for the present and future generations.
In tune with the above, Liberty Mutual Group has established a non-profit foundation named Liberty Mutual Foundation. The main mission of this foundation is to provide single and multi-program grants to non-profit organizations to help homeless people and provide substantial support to the children for their better education.
During this pandemic, Liberty Mutual launched an initiative called ‘CommonTable’, which is structured with a powerful network of food businesses, local restaurants, community-based organizations, and farm partners.
Liberty Mutual Vision Statement
The company’s website does not define any clear Liberty Mutual vision statement, as such.However, after scrutinising its website, it can be said that the company desires to make a big impact with not only its insurance products but also other areas of work for the community, environment and planet as a whole.
The company website also states that it wants to do business with inclusivity, respecting diversity and equity. Along with that, it also wishes to “increase the representation of women and people of all color at all levels in the U.S by 2025.” Their focus is to bring together people of all color to work together and have more women power supporting the organization’s growth. The company has been honored by Forbes as one of America’s Best Employers For Diversity.
Liberty Mutual Core Values
The organization’s strong and ethical value system has made it easier for the company to serve its customers. Liberty Mutual core values are building a truly inclusive workplace because people matter to them, corporate sustainability i.e. doing good for the environment and community, doing business with innovation by thinking beyond conventional insurance
It also focuses on valuing women power. Its strong value system has also made the organization win many awards like The Best Employer for Diversity, Best Places to Work for LGBTQ Equality, The Best Employer for women.
Kelly Scott, Campus Recruiting Program Manager of Liberty Mutual Group, said the following about Liberty Mutual values “We live by five values: being open, which means engaging with all people and possibilities; keeping it simple by being clear and transparent; putting people first by acting with dignity, empathy and respect; making things better by being proactive and challenging the status quo, and acting responsibly by doing what’s right and following through”. (https://cgsm.org/liberty-mutual-insurances-people-centric-approach/)
Liberty Mutual has six ERGs (Employee Resource Group), which offer an equal opportunity to their employees to share their interests and affinities. These groups are represented by people from diverse backgrounds including LGBTQ+, African descent, Asian Americans, Hispanics and Latinos, women, and veterans. (https://cgsm.org/liberty-mutual-insurances-people-centric-approach/)
Conclusion
Liberty Mutual mission, vision and core values suggest that the insurance company is directed towards a positive world where people can live with security via affordable insurance cover. Liberty Mutual Group goes beyond insurance and is also committed to working for the environment and community.
