Opportunities
The main American insurance companies are key factors in the financial area and play a transcendental role in the economy through risk management. Although they are embroiled in insatiable competition among themselves for US market share abroad, they are challenged by competition from foreign guarantors seeking to expand into their domestic market. There are merchant companies, such as banking institutions and financial services companies, who also challenge them in their insurance and risk management tasks in the financial markets.
Faced with stiff competition to provide insurance and risk referral products and services to individuals, companies or agencies, the most prominent threat to insurers comes from disruption to their regular business by insurance technology startups. New “InsurTech” companies originate new ways for humans and businesses to cover, manage and anticipate risks and exposure to different hazards, which can make the activities of traditional insurance companies impossible.
Insurance companies continue to be a backbone of the US economy and will persist in this position for the foreseeable future. The US is such a large commercial window for insurers to thrive that they can use a domestic foothold to open up abroad and conquer new markets. No matter what service they offer, life and health insurance, property and casualty, insurance brokerage or reinsurance, insurance companies are in the US to stay and, permissibly, to conquer the rest of the world.
Leading Insurance Companies in the United States
Are: Everest Re Group, Globe Life, Lincoln National, W.R. berkley, Principal Financial Group, Loews, Cincinnati Financial, Arthur J. Gallagher & Co., Hartford Financial, Willis Towers Watson, The Travelers Companies, Prudential Financial, Aftac, Allstate, American International Group, metlife, Progressive, Aon.
• Marsh & McLennan
• Chubb
Everest Re Group
It is a reinsurance company. It provides reinsurance for about 70% of the premiums received, particularly the sale of catastrophe bonds, and insurance that includes property, workers’ compensation, crops, professional liability, and accident insurance.
Globe Life
It is a financial services holding company. It provides services through its wholly owned subsidiaries. The company provides life insurance, annuities, and supplemental health insurance products.
Lincoln National
It is an insurance and investment processing company that sells its services under the name of Lincoln Financial Group. It operates through subsidiary companies, providing annuities, life insurance, retirement plan services and group protection.
W.R. Berkley
It is a property and accident insurance holding and reinsurance company. Its operations are with commercial insurance businesses in various nations and regions throughout the world, including the United Kingdom, continental Europe, South America, Canada, Mexico, Scandinavia, Asia and Australia. In addition, he works in reinsurance businesses in the US, UK, continental Europe, Australia, the Asia-Pacific region and South Africa.
Principal Financial Group
It is a financial investment management and insurance company, serving four business locations: Retirement and Income Solutions, Leading Global Investors, Leading International and US Insurance Solutions.
Aflac
It is an insurance company, especially involved in supplementary insurance. Aflac provides insurance coverage and compensation calculations for accidents or illness. It operates with licensed sales associates in the US and sales agencies in Japan.
Allstate
It is an insurance company based in Northfield Township, Illinois. It offers car and personal property insurance along with business insurance, as well as a variety of associated insurance products.
American International Group
It is a multinational capital and insurance corporation headquartered in New York City. He works with general insurance, life and retirement, and an independent technology-enabled subsidiary. Provides care in more than 80 nations and jurisdictions.
Metlife
He works with home, car and life insurance, commercial mortgages and securities preserved by commercial mortgages and sovereign debt. He works with businesses in the United States, Japan, Latin America, the Asia Pacific region, Europe, and the Middle East.
Progressive
It is an insurance company, especially involved in car insurance in the US. Provides insurance for motorcycles, boats, recreational and commercial cars, as well as home insurance.
Aon
It is a global professional services company providing risk, retirement and healthcare solutions, headquartered in London, UK. It operates in the business process outsourcing and investment and property management industry.
Chubb
It is the parent company of Chubb, a global provider of commercial and personal property and casualty, accident and health, reinsurance and life insurance products to multinational corporations and local companies, individuals and insurers seeking reinsurance coverage.