The State Farm Insurance is an American group of financial services and insurance companies in the United States. The primary business of the enterprise is a state farm mutual automobile company. The State Farm Insurance is a mutual insurance firm that owns other state farm companies. The mission of the insurance company is to assist the people manage the risks of their day to day life and help them recover from the unexpected events.
Largest auto and home insurer
The State Farm Insurance is the largest auto and home insurer and the eight largest life insurance companies in the United States. The insurance company offers over 100 products and services to their clients. Some of their products include the insurance of renters, off-road vehicles, boats, medical care, and motorcycles just but to mention a few. The company has over 18,000 agents.
This insurance company is the ideal place to look for a well-known brand. This is because the company has a broad range of products at a pocket-friendly price.
Strong areas of the company
The State Farm Insurance Company has strong areas that it excels. These are some of the sectors that make the company better than the other insurance firms. One strong area is that the business is vast and well-known, and credible in the provision of insurance and other financial services. It has built a broad base of clientele over time.
Secondly, the company has over 18,000 sales agent that offer services to the clients. Most of these customers reach out to the clients in their homes and businesses. Last but not least, the company offers competitive prices on auto insurance in most location in the United States. Their rates are competitive when compared with other businesses.
Weak areas of the company
One of the weak areas of the enterprise that needs improvement is the purchase of their products. Their products can only be purchased through the agents of the company. These agents do not direct their clients to other firms that may better fit the specification of the customer.
The firm has not fully embraced technology. With over two billion people connected to the internet, many people are increasingly being empowered to do most things on their own online. This company has not developed such platform for the users; it is the 18,000 agents spread across the states that do this. The other weak area is the discount option. As compared to the competitors, this insurance company offers fewer home insurance discount options.