Financial Service Marketing Essay

Financial Service Marketing Essay

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Financial Service Marketing - Aviva Insurance plc Aviva Insurance Plc. is a company that has been operating in the United Kingdom for quite sometime now and has a good stronghold over the market. Over the years, they have managed to build repute for themselves and are working towards enhancing their image in the longer time period. The company provides general insurance along with underwriting and offers the claim handling is the most inept and efficient manner as possible. Their general insurance strategy is to create strong market positions in the different markets that they operate in and to stay focused on personal lines and selected commercial insurance. For them personalized and customized delivery is of essence and that is what they try to deliver in the best form possible. They try to keep their market and business risks as low as possibly targeting the markets and sectors which were previously ignored. What they count is on recoupment via production of steadier stream of profits, which can be streamlined and used for the support and growth of other interests and concerns of the business in the long run. It also adds value to the operational ability of the company. They are able to fare so well because of their system of combined operating ration (COR), which basically and broadly expresses the total of claims costs, commission and expenses as a percentage of premiums. They have been the pioneers and leaders in this respect and they use a very diversified channel to distribute their services. They are highly advanced as far as the marketing of their financial services are concerned. Business partners are an increasingly important part of the mix and every decision that is taken ifs for the better good of the company and t...

... middle of paper ... rather than being under the illusion of individualism or should not be running wild with the thought of being the market leader. In the end let us look at the SWOT analysis. The major strengths include being the market leader in Europe and in top five in Asia. Performance has been on the rise and the business has been expanding. However weakness could be the approach that at times does not follow the norms of the sector and may prove costly. Opportunities are there to grow and to provide insurance of different types and in customized form to all the new markets that they plan to explore. Lastly the major threat is that of damaging the earning of the company if they insure something that is way too risky and with the ways things have been shaping out lately that is possible. References Britannica Encarta Grolier’s Encyclopedia Washington Post

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