SWOT Analysis of Pacific Life
Pacific life was initially founded by Leland Stanford, who was governor of California in 1868. This insurance company offers mutual funds, annuities and various life insurance plans for personal and business community. More than 100 companies of U.S are counted as clients of Pacific Life Insurance Company. The objective of company is to meet needs of individual customers and business clients. Pacific life enables its customers to acquire financial independence with help of various plans. Whether customer is in need of lifetime income, small business solution or retirement plan Pacific life provides solution for all type of clients.
• Pacific life is completely customer oriented organization and priority is given to customer requirements and needs.
• Risk management is valued at every level of company.
• Team work is practiced to provide best solutions to customers.
• Customers that include contract owners or policy holders are part of the company as it is mutual holding company.
• Decisions of company are not affected by stock price; therefore company can make necessary steps for benefits of clients.
• Continuous evolution of innovative products according to the needs of customers of company.
• Company can choose market or business independently according to its own evaluation.
• The consistent performance of company is ensured with continuous capital growth and its attention on quality assets.
• Company follows cautious strategies of hedging.
• Provides highest possible benefits to policy holders of company.
• Different segments of company share only few strategies.
• Choice of customers according to set criteria.
• It does not acquire benefit from cross selling.
• Company offers few growth chances for its employees.
• Advertising expense is quite high
• To enhance the flexibility for producers more designed processes and administrative system can be introduced.
• Pacific life can offer more detailed information to customers and producers comparatively to other company to enhance the trust of producers.
• IT services and risk management approach should be adopted with common agreement of all segments of company.
• Providing more opportunities for growth of employees can ensure loyalty of employees.
• With more innovative for development of community and education can gain social recognition for the company.
• There are less substitute products are available in market for products of annuity and life insurance by Pacific life.
• There are large numbers of insurance companies operating in USA therefore; Pacific life has to face lots of competition from various rivals.
• Due to other products of company, it also has to deal with competition of non insurance companies offering other financial services in US.
• Presence of independent producers can cause problem of Pacific life.
• Presence of brokers who operate between company and clients can affect the reputation of company.
• More competitors are available in market for mutual funds and investment products.
• Reduced amount of cost allocated for per value added.
•Pacific Life. (2012). Official Website: http://www.pacificlife.com/PL/About%20Pacific%20Life/Newsroom Retrieved: 24th Oct, 2012
• Pacific Life. (2012). Official Website: http://www.pacificlife.com/PL/About+Pacific+Life/Overview/Overview.htm/ Retrieved: 24th Oct, 2012
• Pacific Life. (2010), Holiday Bowl Bridgepoint Education Holiday Bowl.