Business Analysis of 20th Century Insurance
Table of Contents
History, Position, Targeted Market, Goals Page 3
Northridge Earthquake, Crisis Page 4
Comeback Kid, Results of PR Campaign Page 6
Developing a Crisis Plan, Page 7
Crisis Team, Milestones for Communication Page 8
Issues Page 9
Plan Approval, Anticipated competitive responses Page 11
Recommended press release Page 14
References Page 15
Appendix A Page 16
History
20th Century Insurance was established in 1958 and was the first company of its kind to sell automobile insurance without a middleman, known in the industry as a broker or agent. This direct sales approach allowed 20th to offer insurance at a much lower premium than its competitors. To date, 20th Century Insurance is still recognized as one of the most economical full service automobile insurers in the California market.
Position
In terms of market share, 20th Century is the fifth-largest car insurer in the state. The company's credit rating was recently upgraded from a B- to BBB+ and its stock is being traded around $21.50.
20th Century is also among the Valley's (headquarters office location) largest firms in both market capitalization and employees. The company currently employs in over 2,000 people.
Targeted market
For the first 30 years of the company's existence it enjoyed huge profits from selling only automobile insurance. These large profits were achieved, due in part, to its targeted market which are generally people in the age range of 30-60 who are classified as a low risk "good drivers". The company's structure of selling insurance directly to the customer while providing excellent customer service is also a driving force to its success.
In 1982 the company began offering homeowner's 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 homeowner's insurance made up about 10% of the company's business, however, to date it onl...
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Yoshitake, D. 20th Century puts quake trials behind. Daily News
There was a massive earthquake in San Francisco during the year of 1906. The country of United States went through great loss because of this massacre. Nearly 250,000 people had become homeless as the result of this great earthquake. Winchester pointed out the question: How unprepared was America when this disaster hit? He compared the San Francisco earthquake to the Katrina hurricane in 2005.
Illinois. Mercherle didn’t think it was fair that families and other farmers that lived in rural communities paid the same auto insurance rates as those that lived in Chicago. He wanted to establish an “honest insurance company that provided rates related to the risk” (State Farm, About Us). In 1922, after the company opened their doors, a new claim was made which established State Farm’s promise “to be there when the unexpected happens” (State Farm, About Us).
Indisputably, Tim Burton has one of the world’s most distinct styles when regarding film directing. His tone, mood, diction, imagery, organization, syntax, and point of view within his films sets him apart from other renowned directors. Burton’s style can be easily depicted in two of his most highly esteemed and critically acclaimed films, Edward Scissorhands and Charlie and the Chocolate Factory. Burton ingeniously incorporates effective cinematic techniques to convey a poignant underlying message to the audience. Such cinematic techniques are in the lighting and editing technique categories. High key and low key relationships plus editing variations evinces the director’s elaborate style. He utilizes these cinematic techniques to establish tone mood, and imagery in the films.
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Ten million California residents who lived closely from the major fault lines could have been endangered in many extreme ways. (House, 56). A tragic thing was that after the earthquake a multitudes of fire followed right after. The situation led to the water mains being destroyed and the firefighter being left with no water to settle the growing fire which continued blazing. The bay water was planned on putting all of the dure out but it was to far in distance to be able to transport it (Earthquake of 1906, 2). The firefighters who were putting out the fire were either surrounded or being burned by the fire that was blazing in all directions (San Francisco Earthquake, 2). A resident who was present during the event mention that he/she saw men and women standing in a corner of a building praying, one person who became delirious by the horrific ways that were surrounding him while crying and screaming at the top of his lungs “the Lord sent it, the Lord”. Someone also mentioned that they experience themselves seeing Stones fall from the sky and crushing people to death. Reporters say there were 100 cannons going off (San Francisco Earthquake, 3). People who lived fifty miles away from the fire was able to “read the newspaper at
The 1920’s were a seminal moment in our nation’s history. So many key events and people of the time shaped the future of our country. This period of growth, prosperity and social change would not be realized again until the post-WW II years. The enduring impact of the automobile on our nation and the professional, personal and social mobility that it provides, exists today.
Tim Burton's style compared to others is quite unique. His many films do not give off the same mood and feeling that audiences are used to with child films. With some of his role models being Edgar Allen Poe and Ronald Dahl, it's no surprise that his films mix children ideas with a sense of darkness, and even at times creepiness. Tim Burton combines these feelings of child movies and darkness through the way he uses lighting, shots and framing, and to spread his message.
Hazards pose risk to everyone. Our acceptance of the risks associated with hazards dictates where and how we live. As humans, we accept a certain amount of risk when choosing to live our daily lives. From time to time, a hazard becomes an emergent situation. Tornadoes in the Midwest, hurricanes along the Gulf Coast or earthquakes in California are all hazards that residents in those regions accept and live with. This paper will examine one hazard that caused a disaster requiring a response from emergency management personnel. Specifically, the hazard more closely examined here is an earthquake. With the recent twenty year anniversary covered by many media outlets, the January 17, 1994, Northridge, California earthquake to date is the most expensive earthquake in American history.
study of the San Andreas fault system." (USGS) When the 1906 earthquake struck scientist set
Insurance is a very important part of modern life and business. In this paper I will discuss the basic concepts of insurance, claims-made and occurrence liability policies, factors for selecting an insurance company and policies, and the difference between workers compensation and liability insurance.
Gallaudet University. (1997). Public relations Gallaudet University: The beginnings. Gallaudet University, 1-17. Retrieved from http://pr.gallaudet.edu/
As demand for automobiles grew to unexpected heights in the 1920s, General Motors set the pace of production, design, and marketing innovation for others to follow. During their success in the 20’s GM added overseas operations, “ including
Technology was at the top of its game during this time. We had new inventions like the automobile, flights, and mass broadcasting.The automobile before was seen or known as a luxury items and only those who could afford them owned them, but by the 1920’s vehicles were being mass-produced and were commonly seen. Alfred Sloan who was the president of general motors created began devoting more time to automotive styling. His technical advances of the decade included four wheel brakes, automatic engine temperature control, schock absorbers, automatic choking, and adjustable rides; all of which improved the ride and comfort of the car (Rose,216).
J. David Cummins, A. S. (1999). Changes in the Life Insurance Industry: Efficiency, Technology and Risk Management: Efficiency, Technology, and Risk Management. Springer.
Feminism is often described as a white girl’s hobby. The analysis of this belief reveals the unfortunate reality that, while feminism has benefited many groups, one group is benefiting more through overrepresentation. White women’s voices are the loudest of the movement and they drown out the needs and opinions of every other ethnic group. Looking back, the path that lead Feminism here is obvious; however, the path that takes the group to a place of equality is harder to find. This essay examines the path of mainstream feminism through the frame of race then explores ways to eliminate the racial and classist institutions that currently corrupt feminism.