Liberty Mutual Group the Fortune 90 company providing you with insurance and insurance solutions for individuals and companies equally. In the personal market, Liberty Mutual delivers auto, house, and insurance coverage and they give a 24/7 promises call center to get customer service. In the industry market, Liberty Mutual gives products just like commercial auto, worker’s reimbursement, liability, and property insurance to significant and little companies across the world. Mission Affirmation: With our customers, we are involved in a great common enterprise.
It is great as it seeks to stop crippling traumas and fatality by removing the causes of house, highway, and work incidents. It is wonderful because it discounts in the pain relief and misery, woe, anguish and fear and reduction. It is great because it performs to preserve and protect the points people earn and build and own and cherish. Its true achievement will be measured by our power to help people live less dangerous, more secure lives.
Strengths
Freedom Mutual has its own strengths and so they become a world leader in insurance by putting into action these advantages in their everyday operations.
Some of the most significant strengths I could identify incorporate dedication toward employees, status, service quality, responsiveness, and financial stableness. Liberty looks to make just about every employee a property to the company. They spend on higher education in order to develop professions and boost employee know-how. Additionally , they offer incredible benefits and competitive pay. Liberty has a trustworthiness of being a innovator in industrial market insurance services just like worker’s compensation and responsibility. They insurer some of the biggest companies in the world including Residence Depot, UPS, Comcast and Pepsi. It can no secret that their status helped protect the associates for these businesses. In order to create a reputation, Liberty Mutual had to do something outstanding for a long period of time. In this instance it’s customer support.
With business claims business office strategically located over the U. S i9000. and personal statements offices all over the world, Liberty Common has rendering award winning customer care for decades. Another strength that developed Freedom Mutual’s standing is all their responsiveness. Liberty Mutual has demonstrated quick the rates of response to catastrophic events just like hurricanes, tornados and surges. They have promises representatives to disaster sites as soon aspossible to help people get back to their regular lives. Lastly, Liberty Mutual’s financial balance is the biggest strong points. In their 2009 annual record, Liberty Shared showed their revenues just under $28 billion. In addition , they reported to have just below $5 billion in cash and cash equivalents.
Weaknesses
Being a bundle of money 100 organization, Liberty Mutual does not have a wide range of weaknesses yet I can recognize a few problems that need to be worked on. First is definitely geographical coverage. The insurance sector is very competitive and developing globally is a big issue today. Liberty does have some personal market offices throughout the earth but not enough. Additionally , they have to expand the commercial industry insurance to countries just like China and India who may have large workers. Another weak spot is personal insurance costs. Liberty Mutual’s auto, house, and life insurance prices happen to be drastically greater than other insurance companies and in order to be competitive they need to drop.
Opportunities
Mentioned previously before, Freedom Mutual comes with an opportunity to increase into a global market. Whilst they have some personal market claims offices in foreign countries, there is an amazing opportunity to increase that and business market insurance into countries with huge populations and workforces. Equally China and India include over 1 billion people. The potential to sell auto, residence, and life insurance to all these people would be unremarkably beneficial for the company.
Threats
You will find few firms that danger Liberty Mutual’s commercial industry insurance item. Liberty has high consumer retention for their quality customer satisfaction and highly regarded reputation. The largest threat is based on the personal marketplace insurance industry. Personal auto insurance is one of the most competitive markets in the world and Freedom Mutual has been doing a good work in the last 10 years building their product. Nevertheless , it’s hard to compete within an industry that may be always changing and expanding. Competitors are now offering even more for less and turnover takes place so often that it jeopardizes Liberty’s opportunities. An additional threat influencing every organization in the U. S. is the recent economic depression. Operating a businessthrough a recession can be described as difficult task that often involves difficult decisions just like lay-offs. Freedom Mutual have been no exception to this rule.
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