Latest news with #JewelersMutual
Forbes
26-06-2025
- Business
- Forbes
Control What You Can: A Blueprint For Thriving As A Legacy Company
Scott Murphy, President and Chief Executive Officer, Jewelers Mutual®. While tradition and heritage are valuable assets for legacy companies, they can sometimes create a false sense of security in the face of rapid change. Technological change and evolving customer expectations are irresistible forces that, if you are not careful, can easily overwhelm your company's infrastructure in a matter of months. If you lead an established company, you likely already feel the strain between preserving what works and staying relevant. I have experienced this firsthand at my company, which has more than 100 years of history, and I have learned that staying still is not an option. Our transformation has included digitizing core processes, acquiring new businesses, and reimagining how we support customers and partners across our industry. These are all tried and true practices, but what makes them effective strategies in managing change is how you execute them: with a proactive approach and a belief that change can help you maximize your success instead of toppling it. Creating A Blueprint For Change-Management Here are four actionable strategies I recommend to other legacy business leaders looking to drive growth while honoring their company's roots: Resistance to change is often your biggest internal threat. I have found that success in overcoming it starts with how you communicate change. For example, our company began tying every change initiative to a customer outcome and ensured all levels of leadership could clearly explain the "why" behind the initiative. We also made it a habit to involve employees early through ideation sessions and to provide regular updates. Celebrate your progress often, even small wins—it helps build momentum and normalize innovation. Legacy companies typically have the resources and trust to lead disruption—but you must be willing to rethink even your most successful offerings. We recognized the need to modernize jewelry insurance at the point of sale, which led us to develop a mobile app. It was a bold shift from traditional models, but the decision to act proactively—before our customers demanded it—gave us a competitive edge. Ask yourself: What part of your business are you afraid to touch? That is often where innovation needs to happen most. Many organizations collect customer feedback, but the differentiator lies in how effectively that feedback is synthesized and acted upon. By combining usage trends from your various touchpoints (such as your website and mobile app) with data from service centers and post-interaction surveys, you can identify friction points and iterate quickly. For example, we implemented a unified customer data platform that allows us to proactively resolve service pain points, improve digital self-service functionality and strengthen omnichannel support. These insights have informed product enhancements and led to measurable improvements in engagement and satisfaction. I encourage you to invest in tools that centralize and surface feedback, whether they be a CRM system or custom dashboard. More importantly, empower your teams to act on what they learn. I have found that true personalization is not about having more data—it is about using that data to show customers you are listening and can meet them where they are. Build influence, create space for innovation, communicate your progress effectively, and empower your teams to do the same. In my experience, focusing on what can be controlled—and not letting things outside of that control paralyze your progress—is key. Establish a framework that empowers employees at every level to take ownership of ideas and drive initiatives forward. Look for technology solutions that generate measurable ROI, such as reducing manual processes through automation and digitization. I also recommend investing in self-service tools and streamlined digital platforms that directly support customer experience and business growth. This kind of proactive mindset can not only accelerate progress but also build organizational confidence and support a culture where innovation is continuous and sustainable. The Advantages Of Embracing Change By prioritizing continuous adaptation, you can regularly assess and adapt your business processes, product offerings and customer engagement strategies. You can also foster stronger, more long-term customer relationships. With expertly tailored personalized communication and a commitment to customer satisfaction, these relationships can feel more valuable to the customers they are meant to serve. Conclusion Legacy companies often have strengths that younger organizations do not, including history, trust and a strong foundation. I have seen how honoring our past while building boldly toward the future can be a winning combination. If you pair that foundation with a customer-first mindset, the right tools and a willingness to challenge assumptions, your legacy can not only survive, but thrive. Change is inevitable. Growth is optional. Choose to grow. Forbes Business Council is the foremost growth and networking organization for business owners and leaders. Do I qualify?
Yahoo
29-05-2025
- Business
- Yahoo
Synchrony enters into new sponsorship agreement with Jewelers Mutual
Synchrony (SYF) and Jewelers Mutual, an insurer dedicated to protecting jewelry and jewelry businesses for over a century, announced a new sponsorship agreement to co-market both services to jewelry merchants looking to make customers aware of both financing and insurance coverage options. As part of the agreement, Jewelers Mutual will showcase Synchrony financing solutions in its marketing materials as well as Zing Marketplace, a comprehensive online platform created for its member retailers. Zing Marketplace features tools to help merchants serve their customers, including jeweler web pages, diamond marketplace, a jewelry appraisal solution and, now, financing offerings from Synchrony. Synchrony will also feature offers directly from Jewelers Mutual to merchants and consumers through select marketing materials as well as on Synchrony Marketplace, a shopping destination for consumers to find special offers from Synchrony partners. Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>> See today's best-performing stocks on TipRanks >> Read More on SYF: Disclaimer & DisclosureReport an Issue Synchrony price target raised to $63 from $57 at Truist Synchrony and Discount Tyre extend partnership Strong Credit Management and Stable Loan Growth Drive Buy Rating for Synchrony Financial Synchrony Financial Releases April 2025 Charge-Off Data Synchrony removed from bullish Fresh Pick status at Baird
Associated Press
28-05-2025
- Business
- Associated Press
Synchrony and Jewelers Mutual® Collaborate on Innovative New Sponsorship Agreement, Combining Finance and Insurance Marketing Efforts
Synchrony Financing Solutions Will Be Offered in Jewelers Mutual Marketing Materials and in Zing Marketplace STAMFORD, Conn., May 28, 2025 /PRNewswire/ -- Synchrony (NYSE: SYF), a premier consumer financial services company, and Jewelers Mutual ®, an insurer dedicated to protecting jewelry and jewelry businesses for over a century, today announced a new sponsorship agreement to co-market both services to jewelry merchants looking to make customers aware of both financing and insurance coverage options. 'Through this new sponsorship agreement with Jewelers Mutual, we are extending the value Synchrony brings to retailers around the country,' said Darrell Owens, CEO, Lifestyle, Synchrony. 'Jewelry merchants can now present their customers with financing options that make purchases more affordable, while making their customers aware of the option to protect their jewelry, which is often among a customer's most cherished possessions.' As part of the agreement, Jewelers Mutual will showcase Synchrony financing solutions in its marketing materials as well as Zing® Marketplace, a comprehensive online platform created for its member retailers. Zing Marketplace features essential tools to help merchants best serve their customers, including jeweler web pages, diamond marketplace, a jewelry appraisal solution and, now, financing offerings from Synchrony. Synchrony will also feature offers directly from Jewelers Mutual to merchants and consumers through select marketing materials as well as on Synchrony Marketplace, a shopping destination for consumers to find special offers from Synchrony partners. As a result, Synchrony will help elevate awareness of Jewelers Mutual and its insurance services, which are used by over one million customers throughout the United States and Canada. 'As a leader in consumer financing, we're excited about the added value our collaboration with Synchrony will bring to jewelers and their customers,' said Mike Alexander, Chief Operating Officer, Jewelers Mutual. 'Together, we are committed to supporting jewelers in delivering seamless customer experiences while helping protect the pieces they will treasure for a lifetime.' Synchrony financing is currently used by more than 4,000 jewelry retailers nationwide. Synchrony is committed to offering financing options for small and medium-sized businesses across the country to help them grow their business and offer customers greater purchasing power to meet their needs. About Jewelers Mutual Group Jewelers Mutual® was founded in 1913 by a group of Wisconsin jewelers to meet their unique insurance needs. Later, consumers began putting their trust in Jewelers Mutual to protect their jewelry and the special memories each piece holds. Today, Jewelers Mutual continues to support and move the industry forward by listening to jewelers and consumers and offering products and services to meet their evolving needs. Beyond insurance, Jewelers Mutual's powerful suite of innovative solutions and digital technology offerings help jewelers strengthen and grow their businesses, mitigate risk, and bring them closer to their customers. The Group insurers' strong financial position is reflected in their 38 consecutive 'A+ Superior' ratings from AM Best Company, as of November 2024. Policyholders of the Group insurers are members of Jewelers Mutual Holding Company. Jewelers Mutual is headquartered in Neenah, Wisconsin, with other Group offices in Dallas, Texas, Miami, Florida and Raleigh, North Carolina. To learn more, visit About Synchrony Synchrony (NYSE: SYF) is a leading consumer financing company at the heart of American commerce and opportunity. From health to home, auto to retail, our Synchrony products have been serving the needs of people and businesses for nearly 100 years. We provide responsible access to credit and banking products to support healthier financial lives for tens of millions of people, enabling them to access the things that matter to them. Additionally, through our innovative products and experiences, we support the growth and operations of some of the country's most respected brands, as well as more than 400,000 small and midsize businesses and health and wellness providers that Americans rely on. Synchrony is proud to be ranked as the country's #2 Best Company to Work For® by Fortune magazine and Great Place to Work®. For more information, visit Contact: Lauren Devilbiss Synchrony [email protected] 240-814-5825 View original content to download multimedia: SOURCE Synchrony
Yahoo
28-05-2025
- Business
- Yahoo
Synchrony and Jewelers Mutual® Collaborate on Innovative New Sponsorship Agreement, Combining Finance and Insurance Marketing Efforts
Synchrony Financing Solutions Will Be Offered in Jewelers Mutual Marketing Materials and in Zing Marketplace STAMFORD, Conn., May 28, 2025 /PRNewswire/ -- Synchrony (NYSE: SYF), a premier consumer financial services company, and Jewelers Mutual®, an insurer dedicated to protecting jewelry and jewelry businesses for over a century, today announced a new sponsorship agreement to co-market both services to jewelry merchants looking to make customers aware of both financing and insurance coverage options. "Through this new sponsorship agreement with Jewelers Mutual, we are extending the value Synchrony brings to retailers around the country," said Darrell Owens, CEO, Lifestyle, Synchrony. "Jewelry merchants can now present their customers with financing options that make purchases more affordable, while making their customers aware of the option to protect their jewelry, which is often among a customer's most cherished possessions." As part of the agreement, Jewelers Mutual will showcase Synchrony financing solutions in its marketing materials as well as Zing® Marketplace, a comprehensive online platform created for its member retailers. Zing Marketplace features essential tools to help merchants best serve their customers, including jeweler web pages, diamond marketplace, a jewelry appraisal solution and, now, financing offerings from Synchrony. Synchrony will also feature offers directly from Jewelers Mutual to merchants and consumers through select marketing materials as well as on Synchrony Marketplace, a shopping destination for consumers to find special offers from Synchrony partners. As a result, Synchrony will help elevate awareness of Jewelers Mutual and its insurance services, which are used by over one million customers throughout the United States and Canada. "As a leader in consumer financing, we're excited about the added value our collaboration with Synchrony will bring to jewelers and their customers," said Mike Alexander, Chief Operating Officer, Jewelers Mutual. "Together, we are committed to supporting jewelers in delivering seamless customer experiences while helping protect the pieces they will treasure for a lifetime." Synchrony financing is currently used by more than 4,000 jewelry retailers nationwide. Synchrony is committed to offering financing options for small and medium-sized businesses across the country to help them grow their business and offer customers greater purchasing power to meet their needs. About Jewelers Mutual GroupJewelers Mutual® was founded in 1913 by a group of Wisconsin jewelers to meet their unique insurance needs. Later, consumers began putting their trust in Jewelers Mutual to protect their jewelry and the special memories each piece holds. Today, Jewelers Mutual continues to support and move the industry forward by listening to jewelers and consumers and offering products and services to meet their evolving needs. Beyond insurance, Jewelers Mutual's powerful suite of innovative solutions and digital technology offerings help jewelers strengthen and grow their businesses, mitigate risk, and bring them closer to their customers. The Group insurers' strong financial position is reflected in their 38 consecutive "A+ Superior" ratings from AM Best Company, as of November 2024. Policyholders of the Group insurers are members of Jewelers Mutual Holding Company. Jewelers Mutual is headquartered in Neenah, Wisconsin, with other Group offices in Dallas, Texas, Miami, Florida and Raleigh, North Carolina. To learn more, visit About SynchronySynchrony (NYSE: SYF) is a leading consumer financing company at the heart of American commerce and opportunity. From health to home, auto to retail, our Synchrony products have been serving the needs of people and businesses for nearly 100 years. We provide responsible access to credit and banking products to support healthier financial lives for tens of millions of people, enabling them to access the things that matter to them. Additionally, through our innovative products and experiences, we support the growth and operations of some of the country's most respected brands, as well as more than 400,000 small and midsize businesses and health and wellness providers that Americans rely on. Synchrony is proud to be ranked as the country's #2 Best Company to Work For® by Fortune magazine and Great Place to Work®. For more information, visit Contact: Lauren View original content to download multimedia: SOURCE Synchrony Sign in to access your portfolio
