Leveraging Industry Benchmarking to Enhance Competitive Analysis: a Deep Dive into Insurance Metrics and Market Trends

EasyChair Preprint 14478

Abstract

In an increasingly competitive insurance industry, effective competitive analysis is crucial for firms aiming to maintain and enhance their market position. This paper explores the strategic application of industry benchmarking to refine competitive analysis, focusing specifically on insurance metrics and market trends. By leveraging comprehensive benchmarks, insurance companies can gain valuable insights into operational efficiency, financial performance, and market positioning. This study delves into key performance indicators (KPIs) commonly used in the insurance sector, such as loss ratios, expense ratios, and underwriting profitability. It further examines how these metrics can be used to identify competitive advantages and weaknesses. The paper also highlights emerging market trends, such as digital transformation and regulatory changes, and their impact on industry benchmarks. Through case studies and empirical analysis, the research demonstrates how aligning with industry standards can drive strategic decision-making and foster a proactive approach to market dynamics. The findings underscore the importance of continuous benchmarking and trend analysis in developing robust competitive strategies and achieving sustainable growth in the insurance market.

Keyphrases: Industry Benchmarking, Insurance Metrics, Market Trends, competitive analysis

@booklet{EasyChair:14478,
  author    = {Anthony Collins},
  title     = {Leveraging Industry Benchmarking to Enhance Competitive Analysis: a Deep Dive into Insurance Metrics and Market Trends},
  howpublished = {EasyChair Preprint 14478},
  year      = {EasyChair, 2024}}