Question
Insurance Company F (ICF) is a direct writer of personal lines insurance. The management team at IF has determined that it needs to evaluate its
Insurance Company F (ICF) is a direct writer of personal lines insurance. The management team at IF has determined that it needs to evaluate its strategies. The primary goal of IC over the past five years has been to use technology to reduce acquisition and underwriting costs, and to pass those savings on to consumers through lower premiums. Although IC has consistently met its sales goals, underwriting results are behind goal, prompting the evaluation. IF has conducted a SWOT analysis and identified various internal and external strengths and weaknesses. Which one of the following questions must the management team answer next in order to effectively use the SWOT analysis to improve its business strategies going forward?
A. Which business strategies have contributed to the failure to meet underwriting goals? B. Which business strategies have resulted in the most opportunities? C. Which weaknesses can be paired with strengths and prioritized for action? D. Which strengths are relevant to the successful execution of the sales goals?
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