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State Farm Essay

878 Words4 Pages

The aim of this particular paper is to discuss the decision by State Firm to choose among incentive packages from local governments for the improvement of its new system. The new system in this case relates to the claims management framework.
State Firm Business Profile
A critical examination of the business profile of State Farm indicates that the company serves various insurance clients which include the following; condo owners, general, accident, health, boat owners, renters, disability, life and annuities, business, boat, long-term care, homeowners, fire and casualty insurance. The company’s target group includes individuals, mutual fund investors, potential home buyers and auto buyers.
Market Share of the Company’s Competition
Appreciably, the company engages in stiff competition with big companies like; Allstate Indemnity, Travelers companies, Chubb, California association of firefighters and Nat peace officer and FF Assoc. Trust Long-term Care Trust. Although the companies are big, it is not a guarantee that they have a huge market share that beat State Farm. Ideally, the best strategy to attain the greatest market share is to proper pricing and quality services to the clients. The main market for this insurance company is in the United States of America where the parent company is located. …show more content…

The fact that many people enjoy saving towards the future, the company should consider capitalizing on this opportunity. Also, since the company handles mutual funds, there is a great opportunity for growth and expansion in the farm (Embrechts, Klüppelberg, & Mikosch,

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