Business Analysis of 20th Century Insurance Essay -- Insurance Compani

line of business Analysis of twentieth blow insuranceTable of ContentsHistory, Position, Targeted Market, Goalsvarlet 3Northridge Earthquake, Crisis knave 4Comeback Kid, Results of PR Campaign pageboy 6Developing a Crisis Plan, foliate 7Crisis Team, Milest atomic number 53s for CommunicationPage 8IssuesPage 9Plan Approval, Anticipated competitive responsesPage 11Recommended press releasePage 14ReferencesPage 15Appendix APage 16Historytwentieth Century Insurance was established in 1958 and was the first company of its kind to make out automobile insurance without a middleman, known in the industry as a broker or agent. This direct sales approach allowed twentieth to offer insurance at a much lower bounty than its competitors. To date stamp, 20th Century Insurance is still recognized as unrivaled of the most economical full service automobile insurers in the atomic number 20 market. Position In terms of market share, 20th Century is the fifth-largest auto insurer in the state. The companys credit rating was recently upgraded from a B- to BBB+ and its expect is being traded around $21.50. 20th Century is also among the Valleys (headquarters office location) largest firms in both market capitalization and employees. The company currently employs in all over 2,000 people.Targeted marketFor the first 30 years of the companys existence it enjoyed huge gain from selling only automobile insurance. These large profits were achieved, due in part, to its targeted market which are generally people in the age take to the woods of 30-60 who are classified as a low risk peachy drivers. The companys structure of selling insurance directly to the customer while providing slight customer service is also a driving force to its success. In 1982 the company began offering homeowners insurance and this venture also proved to be financially successful for the company. The vast majority of the homes insured by 20th Century are located in the Valley cites and at one time the homeowners insurance made up about 10% of the companys business, however, to date it onl... ... business. ReferencesGross, A. (1998). Catastrophe planning An essential part of comprehensive risk management. Insurance AdvocateKamer, L. (1997). Crisis plannings most important implement The Drill.Communication WorldLittlejohn, F. Robert (1983). Crisis caution a Team ApproachNew York AMA Management Briefing.Newsom, D., Turk-Vanslyke, J., & Druckeberg, D. (1996). This is PR The realities of humans relations 6ed. United States Wadsworth PublishingSanders, E. (1994). Some hard lessons in extract Insurer faces own problems during quake. Daily NewsSchnaible, R. (1994) 20th Century generation Earthquake, JanuaryShinkman, R. (1996) 20th Century bounces back to solid profitabilityInsurers 1996 net profit income may hit $100 million., Los Angeles Business Journal April 29-May 5Sparks, D. (1995) On the Road Again. Financial World, December 5Stavro, B. (1995) 20th Century on the Rebound After Settling Quake Claims. Los Angles Times September 12Sullivan, B.(1999) Daily News Comeback for 20th Century Insurance, January 13Yoshitake, D. 20th Century puts quake trials behind. Daily News