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Strategy in Action Zurich Insurance - Essay Example

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Strategy in Action Zurich Insurance

The major issues addressed involves how effective business strategies are adopted by Zurich Insurance, and how can they improve the strategies to run the business in better and efficient way. The analysis is executed through SWOT and PESTLE analyses to identify the internal strengths and weaknesses and uncontrollable external opportunities as well as threats are identified by overall industry analysis, value chain analysis and other telescopic observation matrix. The study has revealed that through customer-centric approach Zurich Insurance can sustain and make growth in the coming years as the prospect for industry is generally found to be quite promising. The life-insurance segment can also provide further leverage for the company in the coming years as the demand for such financial product is increasing among people. Zurich HelpPoint can provide the company certain advantages in attaining their objectives in future.
Zurich Insurance is an international company that is engaged with the rendering of financial services related to insurance-based sector. The services provided by Zurich Insurance are vehicle insurance, life insurance, business insurance, building insurance along with pension and investments. The market in which Zurich operates its business is highly competitive. The vision of Zurich Insurance is to be the leader in rendering of economic safeguard as well as investment solutions in relation to customer requirements, financial performance along with employee motivation. The company’s philosophy is to focus on ‘Customer Centricity’. They emphasise on individual customers that can assist them to reinforce the brand. Moreover, the company also puts attention towards its employees as the employees work as ‘one team’ (Zurich, 2011). 3.2 Mission Statement Mission statement of any organisation can be stated to be a reflection of its core principles, identities and values. Mission statement shows the future perspective of the company. The target market segments for the company are individuals, small along with medium-sized businesses and key global corporations. The mission statement of Zurich Insurance is as follows: “We’re working to become the UK’s leading provider of financial services, giving you customer service you’ve never experienced before. We’re committed to doing the right thing, in the right way and for the right reason for you, our employees and the communities we work in” (Zurich, 2011). The aim of the company is to eradicate the obstacles that prevent people from the ultimate utilisation of their earning (Zurich, 2011). 3.3 Corporate Objectives The corporate objective of the comp ...Show more

Summary

The main objective of the study is to prepare a-five year integrated strategic plan for Zurich Insurance so that they can perform and sustain better in emerging and competitive market. A study was adopted to identify the key issues with the company in the present context.By doing this research the in-depth knowledge on this topic can be enhanced. …
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Strategy in Action Zurich Insurance essay example
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