Internal Analysis Of The Prime Insurance Company Essay

Internal Analysis Of The Prime Insurance Company Essay

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The internal analysis of the Prime Insurance Company will include an analysis of the company infrastructure and leadership, customer responsiveness, and innovation. The purpose of the internal analysis is to analyze the internal workings of the company and identify the company’s strengths and weaknesses. Various methods will be used to identify strengths and weaknesses within Prime Insurance such as functional analysis, building blocks of competitive advantage, and the value chain method. The information gathered will be analyzed to determine areas within the company that could be improved.
The functional analysis method was used to analyze the infrastructure and leadership at Prime Insurance. Research was focused primarily on how well the company encourages creativity, how well the company facilitates cooperation and communication across functions, and whether the company has programs that promote efficiency. Information obtained for each area of focus will be used solely to assess the internal environment of the firm. Neither implementation plans nor recommendations will be given in this assessment.
The scarcity mentality is prevalent amongst the department heads at Prime Insurance. This mentality starts with the CEO/Owner of the company and is within the culture of the department heads. The mentality quickly dissipates at the managerial and supervisory levels. In the event an employee approaches a supervisor to present a new idea the idea the supervisor listens to the idea and the dissemination of the new idea stops. The idea rarely makes it to those that have the power to implement change. The reason behind the curtailing of the idea is because the supervisors are aware that the CEO/Owner is not generally open to suggestion...

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...ensure work is being done in an efficient manner. One example of this type of process occurs in the Claims Department. The process is called Claims Committee Meeting. The purpose of this meeting is to assist claims consultants with issues they may be having with any number of their claims. The committee is made up of the president of the company, the manager of the claims department, and the claims supervisors. The committee meets once a week to ensure difficult claims and complicated matters are being looked at with more than one set of eyes. The committee acts as a sounding board for suggestions, approval for future action, and recommendations for the claim. When claims involve a monetary value in excess of $50,000.00 the claim is required to be brought before the committee so each member of the committee can sign off on the settlement authority desired.

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