Resources Platform for Management Consultants

Insurances

Product

 

Liability for various types of risks (car crash, fire damage, credit default)

 

Distribution

 

Sales force, Online sales

 

Customer

 

Individual customers, all types of businesses

 

Competition

 

Large players operating across multiple segments, niche players

 

Key Trends

 

(1) Marketing through better websites easier to use;

(2) Governmental policy changes, for example Obamacare changed the landscape of the US health insurance market

 

Revenues

 

Premium collected, depends on managing risks and controlling costs

 

Costs

 

Claims (payments), overhead (administrative, compliance), salaries, sale commissions, marketing

 

 

 

Resources

 

Hoopes S (2014) Global Insurance Brokers and Agencies, IBISWorld Inc, Los Angeles

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