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Evolution of eCoverage in the Online Insurance Market SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis

Case Study SWOT Analysis Solution

Case Study Description of Evolution of eCoverage in the Online Insurance Market


David Riker, the founder and chairman of eCoverage, an online insurance company, describes the various phases of company development, such as presenting a business plan, gathering a management team, getting the word out, and running the site.

Authors :: Morten T. Hansen, Jeffrey A. Berger

Topics :: Leadership & Managing People

Tags :: Entrepreneurial management, Internet, Strategic planning, SWOT Analysis, SWOT Matrix, TOWS, Weighted SWOT Analysis

Swot Analysis of "Evolution of eCoverage in the Online Insurance Market" written by Morten T. Hansen, Jeffrey A. Berger includes – strengths weakness that are internal strategic factors of the organization, and opportunities and threats that Ecoverage Riker facing as an external strategic factors. Some of the topics covered in Evolution of eCoverage in the Online Insurance Market case study are - Strategic Management Strategies, Entrepreneurial management, Internet, Strategic planning and Leadership & Managing People.


Some of the macro environment factors that can be used to understand the Evolution of eCoverage in the Online Insurance Market casestudy better are - – cloud computing is disrupting traditional business models, there is backlash against globalization, central banks are concerned over increasing inflation, digital marketing is dominated by two big players Facebook and Google, there is increasing trade war between United States & China, increasing government debt because of Covid-19 spendings, increasing inequality as vast percentage of new income is going to the top 1%, banking and financial system is disrupted by Bitcoin and other crypto currencies, increasing commodity prices, etc



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Introduction to SWOT Analysis of Evolution of eCoverage in the Online Insurance Market


SWOT stands for an organization’s Strengths, Weaknesses, Opportunities and Threats . At Oak Spring University , we believe that protagonist in Evolution of eCoverage in the Online Insurance Market case study can use SWOT analysis as a strategic management tool to assess the current internal strengths and weaknesses of the Ecoverage Riker, and to figure out the opportunities and threats in the macro environment – technological, environmental, political, economic, social, demographic, etc in which Ecoverage Riker operates in.

According to Harvard Business Review, 75% of the managers use SWOT analysis for various purposes such as – evaluating current scenario, strategic planning, new venture feasibility, personal growth goals, new market entry, Go To market strategies, portfolio management and strategic trade-off assessment, organizational restructuring, etc.




SWOT Objectives / Importance of SWOT Analysis and SWOT Matrix


SWOT analysis of Evolution of eCoverage in the Online Insurance Market can be done for the following purposes –
1. Strategic planning using facts provided in Evolution of eCoverage in the Online Insurance Market case study
2. Improving business portfolio management of Ecoverage Riker
3. Assessing feasibility of the new initiative in Leadership & Managing People field.
4. Making a Leadership & Managing People topic specific business decision
5. Set goals for the organization
6. Organizational restructuring of Ecoverage Riker




Strengths Evolution of eCoverage in the Online Insurance Market | Internal Strategic Factors
What are Strengths in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis

The strengths of Ecoverage Riker in Evolution of eCoverage in the Online Insurance Market Harvard Business Review case study are -

Organizational Resilience of Ecoverage Riker

– The covid-19 pandemic has put organizational resilience at the centre of everthing that Ecoverage Riker does. Organizational resilience comprises - Financial Resilience, Operational Resilience, Technological Resilience, Organizational Resilience, Business Model Resilience, and Reputation Resilience.

Superior customer experience

– The customer experience strategy of Ecoverage Riker in the segment is based on four key concepts – personalization, simplification of complex needs, prompt response, and continuous engagement.

Operational resilience

– The operational resilience strategy in the Evolution of eCoverage in the Online Insurance Market Harvard Business Review case study comprises – understanding the underlying the factors in the industry, building diversified operations across different geographies so that disruption in one part of the world doesn’t impact the overall performance of the firm, and integrating the various business operations and processes through its digital transformation drive.

High brand equity

– Ecoverage Riker has strong brand awareness and brand recognition among both - the exiting customers and potential new customers. Strong brand equity has enabled Ecoverage Riker to keep acquiring new customers and building profitable relationship with both the new and loyal customers.

Learning organization

- Ecoverage Riker is a learning organization. It has inculcated three key characters of learning organization in its processes and operations – exploration, creativity, and expansiveness. The work place at Ecoverage Riker is open place that encourages instructiveness, ideation, open minded discussions, and creativity. Employees and leaders in Evolution of eCoverage in the Online Insurance Market Harvard Business Review case study emphasize – knowledge, initiative, and innovation.

Sustainable margins compare to other players in Leadership & Managing People industry

– Evolution of eCoverage in the Online Insurance Market firm has clearly differentiated products in the market place. This has enabled Ecoverage Riker to fetch slight price premium compare to the competitors in the Leadership & Managing People industry. The sustainable margins have also helped Ecoverage Riker to invest into research and development (R&D) and innovation.

Highly skilled collaborators

– Ecoverage Riker has highly efficient outsourcing and offshoring strategy. It has resulted in greater operational flexibility and bringing down the costs in highly price sensitive segment. Secondly the value chain collaborators of the firm in Evolution of eCoverage in the Online Insurance Market HBR case study have helped the firm to develop new products and bring them quickly to the marketplace.

Strong track record of project management

– Ecoverage Riker is known for sticking to its project targets. This enables the firm to manage – time, project costs, and have sustainable margins on the projects.

Successful track record of launching new products

– Ecoverage Riker has launched numerous new products in last few years, keeping in mind evolving customer preferences and competitive pressures. Ecoverage Riker has effective processes in place that helps in exploring new product needs, doing quick pilot testing, and then launching the products quickly using its extensive distribution network.

Digital Transformation in Leadership & Managing People segment

- digital transformation varies from industry to industry. For Ecoverage Riker digital transformation journey comprises differing goals based on market maturity, customer technology acceptance, and organizational culture. Ecoverage Riker has successfully integrated the four key components of digital transformation – digital integration in processes, digital integration in marketing and customer relationship management, digital integration into the value chain, and using technology to explore new products and market opportunities.

Low bargaining power of suppliers

– Suppliers of Ecoverage Riker in the sector have low bargaining power. Evolution of eCoverage in the Online Insurance Market has further diversified its suppliers portfolio by building a robust supply chain across various countries. This helps Ecoverage Riker to manage not only supply disruptions but also source products at highly competitive prices.

Cross disciplinary teams

– Horizontal connected teams at the Ecoverage Riker are driving operational speed, building greater agility, and keeping the organization nimble to compete with new competitors. It helps are organization to ideate new ideas, and execute them swiftly in the marketplace.






Weaknesses Evolution of eCoverage in the Online Insurance Market | Internal Strategic Factors
What are Weaknesses in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis

The weaknesses of Evolution of eCoverage in the Online Insurance Market are -

Lack of clear differentiation of Ecoverage Riker products

– To increase the profitability and margins on the products, Ecoverage Riker needs to provide more differentiated products than what it is currently offering in the marketplace.

High cash cycle compare to competitors

Ecoverage Riker has a high cash cycle compare to other players in the industry. It needs to shorten the cash cycle by 12% to be more competitive in the marketplace, reduce inventory costs, and be more profitable.

Slow to harness new channels of communication

– Even though competitors are using new communication channels such as Instagram, Tiktok, and Snap, Ecoverage Riker is slow explore the new channels of communication. These new channels of communication mentioned in marketing section of case study Evolution of eCoverage in the Online Insurance Market can help to provide better information regarding products and services. It can also build an online community to further reach out to potential customers.

Skills based hiring

– The stress on hiring functional specialists at Ecoverage Riker has created an environment where the organization is dominated by functional specialists rather than management generalist. This has resulted into product oriented approach rather than marketing oriented approach or consumers oriented approach.

Slow decision making process

– As mentioned earlier in the report, Ecoverage Riker has a very deliberative decision making approach. This approach has resulted in prudent decisions, but it has also resulted in missing opportunities in the industry over the last five years. Ecoverage Riker even though has strong showing on digital transformation primary two stages, it has struggled to capitalize the power of digital transformation in marketing efforts and new venture efforts.

Products dominated business model

– Even though Ecoverage Riker has some of the most successful products in the industry, this business model has made each new product launch extremely critical for continuous financial growth of the organization. firm in the HBR case study - Evolution of eCoverage in the Online Insurance Market should strive to include more intangible value offerings along with its core products and services.

Aligning sales with marketing

– It come across in the case study Evolution of eCoverage in the Online Insurance Market that the firm needs to have more collaboration between its sales team and marketing team. Sales professionals in the industry have deep experience in developing customer relationships. Marketing department in the case Evolution of eCoverage in the Online Insurance Market can leverage the sales team experience to cultivate customer relationships as Ecoverage Riker is planning to shift buying processes online.

Interest costs

– Compare to the competition, Ecoverage Riker has borrowed money from the capital market at higher rates. It needs to restructure the interest payment and costs so that it can compete better and improve profitability.

High dependence on existing supply chain

– The disruption in the global supply chains because of the Covid-19 pandemic and blockage of the Suez Canal illustrated the fragile nature of Ecoverage Riker supply chain. Even after few cautionary changes mentioned in the HBR case study - Evolution of eCoverage in the Online Insurance Market, it is still heavily dependent upon the existing supply chain. The existing supply chain though brings in cost efficiencies but it has left Ecoverage Riker vulnerable to further global disruptions in South East Asia.

Compensation and incentives

– The revenue per employee as mentioned in the HBR case study Evolution of eCoverage in the Online Insurance Market, is just above the industry average. Ecoverage Riker needs to redesign the compensation structure and incentives to increase the revenue per employees. Some of the steps that it can take are – hiring more specialists on project basis, etc.

Ability to respond to the competition

– As the decision making is very deliberative, highlighted in the case study Evolution of eCoverage in the Online Insurance Market, in the dynamic environment Ecoverage Riker has struggled to respond to the nimble upstart competition. Ecoverage Riker has reasonably good record with similar level competitors but it has struggled with new entrants taking away niches of its business.




Opportunities Evolution of eCoverage in the Online Insurance Market | External Strategic Factors
What are Opportunities in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis


The opportunities highlighted in the Harvard Business Review case study Evolution of eCoverage in the Online Insurance Market are -

Use of Bitcoin and other crypto currencies for transactions

– The popularity of Bitcoin and other crypto currencies as asset class and medium of transaction has opened new opportunities for Ecoverage Riker in the consumer business. Now Ecoverage Riker can target international markets with far fewer capital restrictions requirements than the existing system.

Identify volunteer opportunities

– Covid-19 has impacted working population in two ways – it has led to people soul searching about their professional choices, resulting in mass resignation. Secondly it has encouraged people to do things that they are passionate about. This has opened opportunities for businesses to build volunteer oriented socially driven projects. Ecoverage Riker can explore opportunities that can attract volunteers and are consistent with its mission and vision.

Developing new processes and practices

– Ecoverage Riker can develop new processes and procedures in Leadership & Managing People industry using technology such as automation using artificial intelligence, real time transportation and products tracking, 3D modeling for concept development and new products pilot testing etc.

Using analytics as competitive advantage

– Ecoverage Riker has spent a significant amount of money and effort to integrate analytics and machine learning into its operations in the sector. This continuous investment in analytics has enabled, as illustrated in the Harvard case study Evolution of eCoverage in the Online Insurance Market - to build a competitive advantage using analytics. The analytics driven competitive advantage can help Ecoverage Riker to build faster Go To Market strategies, better consumer insights, developing relevant product features, and building a highly efficient supply chain.

Manufacturing automation

– Ecoverage Riker can use the latest technology developments to improve its manufacturing and designing process in Leadership & Managing People segment. It can use CAD and 3D printing to build a quick prototype and pilot testing products. It can leverage automation using machine learning and artificial intelligence to do faster production at lowers costs, and it can leverage the growth in satellite and tracking technologies to improve inventory management, transportation, and shipping.

Redefining models of collaboration and team work

– As explained in the weaknesses section, Ecoverage Riker is facing challenges because of the dominance of functional experts in the organization. Evolution of eCoverage in the Online Insurance Market case study suggests that firm can utilize new technology to build more coordinated teams and streamline operations and communications using tools such as CAD, Zoom, etc.

Harnessing reconfiguration of the global supply chains

– As the trade war between US and China heats up in the coming years, Ecoverage Riker can build a diversified supply chain model across various countries in - South East Asia, India, and other parts of the world. This reconfiguration of global supply chain can help, as suggested in case study, Evolution of eCoverage in the Online Insurance Market, to buy more products closer to the markets, and it can leverage its size and influence to get better deal from the local markets.

Better consumer reach

– The expansion of the 5G network will help Ecoverage Riker to increase its market reach. Ecoverage Riker will be able to reach out to new customers. Secondly 5G will also provide technology framework to build new tools and products that can help more immersive consumer experience and faster consumer journey.

Changes in consumer behavior post Covid-19

– Consumer behavior has changed in the Leadership & Managing People industry because of Covid-19 restrictions. Some of this behavior will stay once things get back to normal. Ecoverage Riker can take advantage of these changes in consumer behavior to build a far more efficient business model. For example consumer regular ordering of products can reduce both last mile delivery costs and market penetration costs. Ecoverage Riker can further use this consumer data to build better customer loyalty, provide better products and service collection, and improve the value proposition in inflationary times.

Finding new ways to collaborate

– Covid-19 has not only transformed business models of companies in Leadership & Managing People industry, but it has also influenced the consumer preferences. Ecoverage Riker can tie-up with other value chain partners to explore new opportunities regarding meeting customer demands and building a rewarding and engaging relationship.

Reconfiguring business model

– The expansion of digital payment system, the bringing down of international transactions costs using Bitcoin and other blockchain based currencies, etc can help Ecoverage Riker to reconfigure its entire business model. For example it can used blockchain based technologies to reduce piracy of its products in the big markets such as China. Secondly it can use the popularity of e-commerce in various developing markets to build a Direct to Customer business model rather than the current Channel Heavy distribution network.

Reforming the budgeting process

- By establishing new metrics that will be used to evaluate both existing and potential projects Ecoverage Riker can not only reduce the costs of the project but also help it in integrating the projects with other processes within the organization.

Lowering marketing communication costs

– 5G expansion will open new opportunities for Ecoverage Riker in the field of marketing communication. It will bring down the cost of doing business, provide technology platform to build new products in the Leadership & Managing People segment, and it will provide faster access to the consumers.




Threats Evolution of eCoverage in the Online Insurance Market External Strategic Factors
What are Threats in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis


The threats mentioned in the HBR case study Evolution of eCoverage in the Online Insurance Market are -

New competition

– After the dotcom bust of 2001, financial crisis of 2008-09, the business formation in US economy had declined. But in 2020 alone, there are more than 1.5 million new business applications in United States. This can lead to greater competition for Ecoverage Riker in the Leadership & Managing People sector and impact the bottomline of the organization.

Regulatory challenges

– Ecoverage Riker needs to prepare for regulatory challenges as consumer protection groups and other pressure groups are vigorously advocating for more regulations on big business - to reduce inequality, to create a level playing field, to product data privacy and consumer privacy, to reduce the influence of big money on democratic institutions, etc. This can lead to significant changes in the Leadership & Managing People industry regulations.

Trade war between China and United States

– The trade war between two of the biggest economies can hugely impact the opportunities for Ecoverage Riker in the Leadership & Managing People industry. The Leadership & Managing People industry is already at various protected from local competition in China, with the rise of trade war the protection levels may go up. This presents a clear threat of current business model in Chinese market.

Easy access to finance

– Easy access to finance in Leadership & Managing People field will also reduce the barriers to entry in the industry, thus putting downward pressure on the prices because of increasing competition. Ecoverage Riker can utilize it by borrowing at lower rates and invest it into research and development, capital expenditure to fortify its core competitive advantage.

Technology disruption because of hacks, piracy etc

– The colonial pipeline illustrated, how vulnerable modern organization are to international hackers, miscreants, and disruptors. The cyber security interruption, data leaks, etc can seriously jeopardize the future growth of the organization.

Barriers of entry lowering

– As technology is more democratized, the barriers to entry in the industry are lowering. It can presents Ecoverage Riker with greater competitive threats in the near to medium future. Secondly it will also put downward pressure on pricing throughout the sector.

Consumer confidence and its impact on Ecoverage Riker demand

– There is a high probability of declining consumer confidence, given – high inflammation rate, rise of gig economy, lower job stability, increasing cost of living, higher interest rates, and aging demography. All the factors contribute to people saving higher rate of their income, resulting in lower consumer demand in the industry and other sectors.

Technology acceleration in Forth Industrial Revolution

– Ecoverage Riker has witnessed rapid integration of technology during Covid-19 in the Leadership & Managing People industry. As one of the leading players in the industry, Ecoverage Riker needs to keep up with the evolution of technology in the Leadership & Managing People sector. According to Mckinsey study top managers believe that the adoption of technology in operations, communications is 20-25 times faster than what they planned in the beginning of 2019.

Stagnating economy with rate increase

– Ecoverage Riker can face lack of demand in the market place because of Fed actions to reduce inflation. This can lead to sluggish growth in the economy, lower demands, lower investments, higher borrowing costs, and consolidation in the field.

Increasing international competition and downward pressure on margins

– Apart from technology driven competitive advantage dilution, Ecoverage Riker can face downward pressure on margins from increasing competition from international players. The international players have stable revenue in their home market and can use those resources to penetrate prominent markets illustrated in HBR case study Evolution of eCoverage in the Online Insurance Market .

High level of anxiety and lack of motivation

– the Great Resignation in United States is the sign of broader dissatisfaction among the workforce in United States. Ecoverage Riker needs to understand the core reasons impacting the Leadership & Managing People industry. This will help it in building a better workplace.

High dependence on third party suppliers

– Ecoverage Riker high dependence on third party suppliers can disrupt its processes and delivery mechanism. For example -the current troubles of car makers because of chip shortage is because the chip companies started producing chips for electronic companies rather than car manufacturers.

Capital market disruption

– During the Covid-19, Dow Jones has touched record high. The valuations of a number of companies are way beyond their existing business model potential. This can lead to capital market correction which can put a number of suppliers, collaborators, value chain partners in great financial difficulty. It will directly impact the business of Ecoverage Riker.




Weighted SWOT Analysis of Evolution of eCoverage in the Online Insurance Market Template, Example


Not all factors mentioned under the Strengths, Weakness, Opportunities, and Threats quadrants in the SWOT Analysis are equal. Managers in the HBR case study Evolution of eCoverage in the Online Insurance Market needs to zero down on the relative importance of each factor mentioned in the Strengths, Weakness, Opportunities, and Threats quadrants. We can provide the relative importance to each factor by assigning relative weights. Weighted SWOT analysis process is a three stage process –

First stage for doing weighted SWOT analysis of the case study Evolution of eCoverage in the Online Insurance Market is to rank the strengths and weaknesses of the organization. This will help you to assess the most important strengths and weaknesses of the firm and which one of the strengths and weaknesses mentioned in the initial lists are marginal and can be left out.

Second stage for conducting weighted SWOT analysis of the Harvard case study Evolution of eCoverage in the Online Insurance Market is to give probabilities to the external strategic factors thus better understanding the opportunities and threats arising out of macro environment changes and developments.

Third stage of constructing weighted SWOT analysis of Evolution of eCoverage in the Online Insurance Market is to provide strategic recommendations includes – joining likelihood of external strategic factors such as opportunities and threats to the internal strategic factors – strengths and weaknesses. You should start with external factors as they will provide the direction of the overall industry. Secondly by joining probabilities with internal strategic factors can help the company not only strategic fit but also the most probably strategic trade-off that Ecoverage Riker needs to make to build a sustainable competitive advantage.



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