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SWOT Analysis of an Insurance Company?
Could anyone please help me with a SWOT Analysis of an insurance company, like Norwich Union for example??
S - Strengths
W - Weaknesses
O - Opportunities
T - Threats
it'd be the same for most companies.
S - well known in market place, existing market share, brand name, trusted company. Years of experience
W - those annoying TV adds, (only joking). Could be seen as stuck in past, failing to adapt to market changes
O- expansion of types of cover, insurance or finance plans
T - other companies in the market, consumer choices etc
Source(s):7 years ago
do your own homework!by sally b - 7 years ago
there's an excellent website/company called Datamonitor that outlines SWOT analysis' for all companies. it has helped me through my homework!by Bex9mm - 7 years ago
I agree you probably should do your own homework. Makes better for your education. I doubt someone is going to give you all the answers all of your life.
I'll start you out:
Strengths: Massive amounts of money flowing through them. They very rarely go broke (the ones that do are usually very unscrupulous, and go broke through lawsuits). People need insurance, so their business is virtually recession-proof.
Weaknesses: On the hook for claims based on a contractual agreement. Just look at how insurance companies are pulling out of Florida.
You can surely do O and T on your own.
Source(s)by GoodGyrl - 7 years ago