Protector Forsikring ASA Meets its Ambitions According to BAC Report16 Sep 2011 • by Natalie Aster
LONDON - Norwegian-based Protector Forsikring is a successful competitor to the established insurance companies in Norway. It gained its solid position through fruitful relations, farsighted management decisions and cost effective policies. Protector has set three definite goals to achieve further long-term growth:
- Top 3 in all business segments
- Cost leader
- Brokers favorite insurance company
To achieve those, Protector has designed a detailed market strategy that includes three major points.
First is a distinct distribution strategy. All distribution is done through agents and brokers. The commercial and public segment services are sold through brokers. Ownership insurance is sold through authorized real estate agents.
Second is safe claims handling. This field is highly competitive, and Protector has 47 employees working with claims issues.
Third is an IT solutions development strategy. The company’s employees designed unique insurance agreements managing and claims handling systems. These systems are accessible for Protector partners and clients through web-based solutions.
The marketing strategy has already begun to bring its benefits. In the market for brokered land-based insurance Protector performs 17% of all deals, occupying third place. In the municipality sector the enterprise takes up third place two years in a row. In the affinity segment Protector managed to capture above 50% market share, heading to leader position.
According to Protector’s survey conducted in autumn 2010, it is brokers’ preferred insurance company, which is a forth-in-a-row result. The company confidently secures its reputation as a brokers’ favorite.
Protector recent financial performance is strong. In Q2 2011 Premiums written gross rose by 25% comparing to the same period of last year, and amounted NOK 289.1 M. FY 2010 results were stable, with Gross premiums written reaching NOK 1011 M (a 16% increase).
Founded in 2003 and headquartered in Oslo, Protector Forsikring engages in non-marine insurance in Norway. It operates in 2 business segments: Commercial Lines of Business and Public Lines of Business. In 2007 the company committed an IPO and listed at Oslo Stock Exchange.
Further details on the company’s recent performance, business risk factors, possibilities and opportunities can be found in the report “Protector Forsikring ASA Fundamental Company Report Including Financial, SWOT, Competitors and Industry Analysis” recently published by Market Publishers Ltd.
Title: Protector Forsikring ASA Fundamental Company Report Including Financial, SWOT, Competitors and Industry Analysis
Date: Sep, 2011
More company reports featuring SWOT and financial information, industry and competitors analysis can be found in Company Reports Catalog.
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