Liberty Mutual Group which is a Fortune 100 company that provides insurance and insurance services for persons and companies likewise. In the personal market. Liberty Mutual provides car. place. and life insurance and they provide a 24/7 claims call centre for client service. In the commercial market. Liberty Mutual provides merchandises like commercial car. worker’s compensation. liability. and belongings insurance to big and little companies all over the universe. Mission Statement: With our policyholders. we are engaged in a great common endeavor. It is great because it seeks to forestall stultifying hurts and decease by taking the causes of place. main road. and work accidents. It is great because it deals in the alleviation of hurting and sorrow and fright and loss. It is great because it works to continue and protect the things people earn and build and ain and cherish. Its true illustriousness will be measured by our power to assist people live safer. more unafraid lives.
Liberty Mutual has many strengths and they become a universe leader in insurance by implementing these strengths in their daily operations. Some of the most important strengths I can place include dedication toward employees. repute. service quality. reactivity. and fiscal stableness. Liberty looks to do each and every employee an plus to the company. They pay for higher instruction in order to develop callings and heighten employee cognition. Additionally. they provide unbelievable benefits and competitory wage. Liberty has a repute of being a leader in commercial market insurance services like worker’s compensation and liability. They insurer some of the biggest companies in the universe including Home Depot. UPS. Comcast and Pepsi. It’s no secret that their repute helped procure the contacts for these companies. In order to construct a repute. Liberty Mutual had to make something outstanding for an drawn-out period of clip. In this instance it’s client service.
With commercial claims office strategically located throughout the U. S. and personal claims offices throughout the universe. Liberty Mutual has supplying award winning client service for decennaries. Another strength that developed Liberty Mutual’s repute is their reactivity. Liberty Mutual has shown speedy response times to ruinous events like hurricanes. twister and inundations. They have claims representatives to disaster sites every bit shortly as possible to assist people acquire back to their normal lives. Last. Liberty Mutual’s fiscal stableness is one of its biggest strengths. In their 2009 one-year study. Liberty Mutual showed their grosss at merely under $ 28 billion. Additionally. they reported to hold merely under $ 5 billion in hard currency and hard currency equivalents.
Bing a luck 100 company. Liberty Mutual does non hold a batch of failings but I can place a few issues that need to be worked on. First is geographical coverage. The insurance industry is really competitory and turning globally is a large issue today. Autonomy does hold some personal market offices throughout the Earth but non plenty. Additionally. they need to spread out the commercial market insurance to states like China and India who have big work forces. Another failing is personal insurance pricing. Liberty Mutual’s car. place. and life insurance monetary values are drastically higher than other insurance companies and in order to vie they need to drop.
As stated before. Liberty Mutual has an chance to spread out into a planetary market. Although they have some personal market claims offices in foreign states. there is an unbelievable chance to spread out that and commercial market insurance into states with immense populations and work forces. Both China and India have over 1 billion citizens. The possible to sell car. place. and life insurance to all these people would be normally good for the company.
There are few companies that menace Liberty Mutual’s commercial market insurance merchandise. Liberty has high client keeping because of their quality client service and extremely regarded repute. The biggest menace lies in the personal market insurance industry. Personal car insurance is one of the most competitory markets in the universe and Liberty Mutual has done a good occupation in the last decennary constructing their merchandise. However. it’s hard to vie in an industry that is ever altering and developing. Rivals are now offering more for less and turnover happens so frequently that it jeopardizes Liberty’s chances. Another menace impacting every concern in the U. S. is the recent economic downswing. Operating a concern through a recession is a hard undertaking that frequently involves tough determinations like lay-offs. Liberty Mutual has been no exclusion to this regulation.