AIG Swot Analysis

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AIG is a multinational corporation that offers a wide variety of services to its customers. From property and casualty services to investment funding, AIG’s broad range of services helps them be ahead of its competition in certain areas. These services are offered to individuals and also businesses, which allows them to focus on two different target markets. With tough competition such as Allianz SE and Zurich Insurance Company, AIG has to keep up with its competitors by offering better value to its broad range of customers.

The finance and insurance industry has been a very profitable one in the past years. In 2012 alone, the insurance industry’s net premiums added up to approximately $1.27 billion. In 2013 for the finance industry, earnings grew about 23 percent to $42.3 billion, which led to the 16th consecutive quarter of rising earnings. There are plenty of signs that show the industry will continue to grow. AIG needs to consider focusing more on the financial side and perhaps advertising it a bit more to attract new customers.
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A company must form a competitive analysis to find such strengths and weaknesses of competitors to gain competitive advantage. For Zurich, a strength can be that they offer car insurance to individuals and it is easily accessible on their website. For Allianz, one of their strengths is that they are one of the top three asset managers in the world. AIG has to take notice of these strengths and make them top priorities. For Zurich’s strengths, AIG can start offering national car insurance to individuals; this will put them in them in competition with Zurich and perhaps gain new customers. AIG is already a top asset manager around the globe, but to remain this position they have to add more value to their services. This means becoming a leader in the finance industry and offering the best possible customer

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