Mennonite Mutual Fire Insurance was formed out of demand and passion to supply quality insurance products to Saskatchewan. MMFI has been successful in their field developing strong products, positive company culture and real ownership of the company to their clients through their organization structure as a mutual. A mutual company structure means every customer literally buys a piece of the company.
The old name served them well for years but it was time to find a new company name that was more reflective of their current day needs. A brand review was conducted to learn the history, culture and future plans. Company naming requires research, thought and creativity and we chose the name of MMFI to be ‘My Mutual’.
The My Mutual name is inclusive, personal and friendly. This name relates to the true ownership by members, where each person can honestly say ”this is MY insurance company”. The name sounds good when spoken, is easy to remember, and makes one feel good. The My Mutual name was the perfect culmination of all we learned in the brand positioning session.
The branding process and company naming process devised allowed free communication, discerning critiques and honest and relevant graphic development.
National Brand helped find a new name for the company, develop a brand positioning statement and brand development that is fresh, meaningful that will serve My Mutual for another 100 years.
Company naming is more important than the logo itself. National Brand thinks big, deliberately and carefully to select a company name that stands out before you even see the logo.
Some of our strategies for company naming are to make sure it sounds good, in-person, repetitively and in media such as radio. The company name should if possible project a benefit and this is where the branding process is so important. Company names with initials or ‘clever’ spellings should be avoided if possible, so people can easily spell it.
National Brands branding experience helps companies form their direction and the branding exercises shapes that direction. A company with a strong vision and directives ensure a timeless brand for years to come, that’s smart business.