Insurance Industry & Philip Morris

Maintaining a low level of risk is important because of the perception in the marketplace. Strategic joint ventures and investors are likely to be put off if a company is perceived as having a high risk profile. Managing risks of financial cyclicality is important because the financial markets move through cycles, and companies must be able to withstand downturns in order to take advantage of upturns in the markets. Developing new distribution channels affects the ways that companies do business, and some noninsurance financial institutions (such as banks) are now entering the insurance industry. Balancing sales of traditional products and annuities helps companies maintain a strong competitive profile. As the nation's demographics shift toward an older population, there is additional opportunity for insurance companies. Financial soundness is key to attracting investors and additional capital, and reacting to regulatory issues gives insurance companies the right legal footing in order to build additional success.

These success factors affect all companies within the insurance industry, but individual companies can position themselves so

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Approximate Word count = 927
Approximate Pages = 4 (250 words per page)

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