Strategic industry analysis is focused on the attractiveness of a market segment as well as on the positioning of a company to compete effectively in that market segment.
Understanding the economic dynamics of your clients (profitability, growth, market transformation, etc.) is crucial to your strategic planning. So are a number of other considerations such as the distribution system, the reinsurance market, the behavior of regulators and rating agencies, investor expectations, employee skill and motivation, etc.
By understanding the dynamics of all these aspects of the market, as well as understanding your company strengths and weaknesses and your competitors’strengths and weaknesses, you can develop a solid strategy for your company.
We can help. By researching customer segments, state insurance environments, demographic trends and competitor profiles, we can help you tackle the challenges that are constantly facing companies in the industry.
For example, a typical competitive analysis might rate the relative performance of a company with its competition in terms of:
Each year, Gross Consulting independently evaluates the level of held reserves of over 700 property casualty insurance companies, using a proprietary reserving model. Through this process, we can provide unique insights into the positioning of competitors, given their financial outlook. Add to this information an in-depth review of key players in the relevant marketplace, and the result is an effective competitive analysis that can be used to advance corporate objectives.
We welcome the opportunity to work with your management to develop a powerful competitive strategy. Contact us today.