Nationwide Insurance Buisness Analysis

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Nationwide Insurance Company

By

Management Analysis Report

Principles of Management, MGMT

4/17/08

Executive Summary

Nationwide Mutual Insurance Company has demonstrated over the years for strong leadership in the Insurance market. They tend to be a leader more than a follower in their business decisions. Nationwide deals through human resources that have appoint more that 36,000 employees. Nationwide Mutual Insurance Company has offices throughout the US. The company is a leading US property/casualty insurer. In addition to personal and commercial property/casualty coverage, life insurance, and financial services, Nationwide also offers such specialty lines as professional liability, workers' compensation, agricultural insurance and loss-control, pet insurance, and other coverage. The company sells its products through such subsidiaries as ALLIED Group, Nationwide Agribusiness Insurance, Gates McDonald, and Scottsdale Insurance. Nationwide Financial returned more than $650 million to shareholders through dividends and share repurchases. The last 80 years Nationwide Mutual Insurance Company has gone from a small auto insurer for Ohio farmers, to one of the largest insurance and financial services companies in the world with more than $157 billion in statutory assets. Nationwide also has sponsored or has been known as the city of Columbus, Ohio. Nationwide Mutual Insurance Company is a diversified company which always helps out the community. They sponsor a disaster relief fund that associates, agents and retires have generated millions of dollars to support unexpected disasters. Overall, it is proven that Nationwide Mutual Insurance Company is very focused on running a successful business. Table of Contents

1.Mission Statement…………………………………………………4

2.Major Goals………………………………………………………..4 3.Organizational Structure………………………………………….5 4.SWOT Analysis………………………………………………….....5 5.One Major Opportunity and One Major Threat………………...6 6.Key Performance Metric…………………………………………..6 7.Ethics………………………………………………………………..7 8.Diversity…………………………………………………………….7

Mission Statement
At Nationwide®, we're working hard every day to meet the insurance and financial needs of our customers, at every stage of life. Whatever happens. You can count on it. With more than $157 billion in statutory assets, Nationwide is one of the largest insurance and financial services companies in the world. We offer a full range of insurance products and financial services for your home, car, family and financial security. We support diversity and inclusion. Our workforce and business practices reflect this. Our associates have a variety of skills, experiences and backgrounds much like our customers. We understand you, because we are you. And that makes it easier for us to provide you with the insurance products and financial services you value. Simply put®, Nationwide is On Your Side®.

(Nationwide Insurance, About Us, 2008, http://www.nationwide.com/about-us.jsp?NWOssQLPos=1&NWOssQL=mission+statement )

Major Goals
Growing their revenue
Invest in more marketing and advertising to reach more and more consumers to deliver and “On Your Side” experience •Strengthen their culture to focus on customers
Investing heavily in becoming more competitive in serving targeted segments of customers and realigning
their distribution methods to meet their needs.

Organization Structure
Nationwide is geographically home based in Columbus, Ohio. The company has offices all over the United States. A majority of the offices are in the east and central southern parts of the United States with only one office out west in Texas. Nationwide Enterprise is the group of other companies that Nationwide own all over the United States. Nationwide does insurance, financing, and banking.

SWOT Analysis
Strengths
Ranked #104 on the Fortune 500
Appoint 36,000 employees
More than 16 million policies in force
# 1 Philanthropic for...
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