Delivered December 7th, 2019. Contributors: Ivan C., Neema and
Central Insurance Competitive Landscape, Part 1
Information for Central Insurance and Auto-Owners including their competitive advantages, target market, tagline & brand messaging, and marketing channels are described below. The findings are also included in columns C & D of this spreadsheet.
Central Insurance claims to have contact standards that are among the highest in the industry when dealing with claims.
Their wide range of packages covers basic protection to broad, comprehensive coverage capable of offering exceptional value or ultimate protection respectively.
They also claim to supply the best choice of coverage for different needs through personalized recommendations by their independent agents.
Central’s insurance products are targeted towards individuals that own various real estate, boats, docks, automobiles, digital devices, and personal property. They also offer insurance to businesses that own commercial property, vehicles and digital devices from different industries including light industrial, services, wholesale, auto service, and repair, construction, restaurants, contractors, retailers, self-storage and offices. They have products targeted specifically at landlords and tenants.
Central Insurance’s tagline is “Fulfilling the Promise Since 1876”. They claim to take policies as serious promises to pay for losses occurred.
Their claims branches are as close as possible to policyholders and agents with over 100 claim offices in 26 states. This allows the claim process to be easy and responsive.
Auto-Owners offers insurance to individuals that own conventional homes, condos, mobile homes, farms, automobiles, boats, motorcycles, RVs, trailer valuable property, and pets. They also offer insurance businesses that own vehicles and hire employees from different industries including contractors, repair garages, hotels, manufacturing, office, professional liability, restaurant, retail, and service. They have products targeted specifically at landlords and tenants.
Auto-Owners’ website utilizes the tagline of “Safe. Sound. Secure.®” but the tagline is not found in other channels.
Cincinnati Financial and Selective Insurance offer property and casualty insurance services. Cincinnati Financial operates in 43 U.S. states and leverages its strong financial standing to provide exceptional services to its customers and agents. Selective Insurance is a regional power-horse insurance company in the U.S. with over 2,000 employees and services targeted towards individuals auto and homeowners and businesses. Our findings has been documented in columns E-F of the attached spreadsheet.
Insurance Companies Summary
The Cincinnati Financial Corporation offers property and casualty insurance. The company was founded in 1950, headquartered in Fairfield, Ohio, United States. Cincinnati Financial business lines include leasing and financing, loss control services, life insurance, property insurance, risk management. The company operates through its three main subsidiaries, The Cincinnati Insurance Company, CSU Producer Resources Inc. and CFC Investment Company and has over 4,999 employees.
Cincinnati Financial claims to offer the best claim service and competitive insurance products. The company is one of the largest property and casualty insurers in the United States, with a presence in 43 states. The company's commitment to and continued success of their qualified independent insurance companies gives it a competitive advantage. According to Cincinnati Financial, its financial strength has helped it in providing competitive products and services and be a consistent market for their agents' business.
The company uses the tagline "Everything Insurance Should Be." Cincinnati Financial takes a personalized approach to access claims with the affected individuals and provides unparalleled claim service. The company outlines its financial strength as its opportunity to serve its policyholders and independent agents better. According to the company's vision statement, the company is focused on being the best company serving independent agents.
The company's insurance products and services are targeted towards individuals (auto and homeowners) and businesses. For businesses, their target markets are auto care and service, bonds, aging services, child care and early learning, civic organizations and clubs, commercial properties, contractors, emergency service organizations, hotels, manufacturers, schools, government agencies, restaurants, professional offices, religious organizations, retail, social service organizations, wholesalers, and technology industry.
Central Insurance Competitive Landscape, Part 3
Travelers is an industry leader in the insurance market with over $30 billion in revenue; its products and services are targeted towards individuals, government agencies and business. Safeco insurance services are targeted towards individuals and small-mid-sized business. Safeco provides a personalized experience for its customers by providing local agents to cater to the customers' needs. Our findings have been presented in the columns G and H of the attached spreadsheet.
Travelers is one of the oldest insurance companies founded in 1853 and is headquartered in New York, United States.
The company offers a wide range of commercial and personal property and casualty insurance products and services. Travelers generated revenue of $30.282 billion in 2018 and have 30,000 employees.
Through its sizeable specialized workforce, which is made up of over 10,000 claim professionals, Travelers delivers high-quality service and handle claims efficiently.
Travelers offer a fast, fair, effective claims handling, innovative risk control services and is renowned in the commercial and personal insurance marketplace. In addition, it has a strong distribution presence across the U.S. comprising over 100,000 producers in 10,000 firms.
For business, the company's target industry are construction, energy, manufacturing, real estate, financial institutions, healthcare, technology, transportation, wholesale & distribution, retail, oil and gas, public entities, marine industries, museums and fine arts, non-profits, food services, hospitality and recreation, education, equipment dealers, agribusiness, architects, auto and truck dealers, and business services.
It also provides equipment breakdown options, which are not provided by competitors in the market. In addition, Safeco partners with local independent agents to provide customers with advice and personal recommendations specifically tailored to the customer's needs making in unique in the industry.
The requested information for Central Insurance Companies has been documented in rows 3-9 of the attached spreadsheet.
Central Insurance Companies was founded on April 17, 1876, as Van Wert County Mutual Fire Insurance Company. The company began its operations in Van Wert County, Ohio and later expanded to other parts of Ohio and other states in the United States. In 1884, the company rebranded to The Central Manufacturers' Mutual Insurance Company.
The company's expansion continued through the 1890s and 20th century; during the years, the company assets rose to over $25 million and opened offices in nine states in the United States. In 1961, a stock company, All America Insurance Company was created by Central Insurance to keep abreast with its competitors going into stock insurance.
The header contains navigation buttons to product and services page, an overview of the company, a dropdown nav-bar to the "Claims" page and a search button positioned on the far right corner of the header. The main body contains a description of homeowners insurance policies and on the left corner, a customer login form. The footer of the site includes links to social media accounts of the company, nav-bars to the about page, contact, careers, and location pages. A google map is embedded under the company's address on the footer.
Central Insurance uses social media to engage with customers.
Central Insurance engages with its customers by advertising its products and services, share safety tips and organizing online contests for customers.