| Nr. | Название главы | Стр. |
| Table of Contents | 3 | |
| Executive Summary | 3 | |
| 1. | External Analysis | 4 |
| 2. | Internal Analysis | 8 |
| 3. | Current Strategy Assessment | 12 |
| 4. | Recommendation | 15 |
| 5. | Conclusion | 17 |
| Bibliography | 18 |
5. Conclusion
In conclusion, as the external environment of a company changes, the business strategy must adequately change and adjust as well. In our analysis, we have utilized both external and internal frameworks to gain a broad understanding of Aviva and the industry it operates in. Through our external analysis, we identified that under the new regulation, it is essential to have high transparency for premiums. Whereas our internal analysis focused on analyzing the internal resources and operations of Aviva to evaluate and assess its sufficiency to meet these challenges. In order for a company to sustain its growth in the market with the new regulation in place, it is crucial for Aviva to readjust its strategy by focusing and addressing fraud, competition and technology. Although the company has recently introduced new strategies, it is evident from our analysis of their current strategy, that it remains insufficient to meet the external issue and challenges identified. We have therefore drawn two possible recommendations for Aviva. First which focuses on embedding technology-based strategy to meet tackle the identified challenges. Second recommendation is to narrow down their current strategy and provide specific details. The alteration of their current strategy may aid Aviva’s future growth in the market and enhance its competitive advantage.
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Aviva possess more than three centuries of heritage in the insurance industry. While only acquiring its current brand name in the year 2000, it has established itself as a major brand in Ireland and across the world by building on customer focused and diversified product offerings. The PESTEL analysis focuses primarily on legal aspects, as the insurance industry in Ireland is facing changes due to a newly introduced transparency legislation from the Central Bank. The focus of this is forcing car insurance firms to be more transparent with their policyholders regarding premium charged, this will also affect suppliers’ power which is outlined in Porters analysis. Other key findings from the external analysis are the increasing importance of technology in terms of data analytics while also uncovering the importance of distribution channels.
