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IRB Brasil Resseguros (IRBR3) SWOT Analysis / TOWS Matrix / MBA Resources

Introduction to SWOT Analysis

SWOT Analysis / TOWS Matrix for IRB Brasil Resseguros (Brazil)


Based on various researches at Oak Spring University , IRB Brasil Resseguros is operating in a macro-environment that has been destablized by – increasing commodity prices, increasing household debt because of falling income levels, talent flight as more people leaving formal jobs, central banks are concerned over increasing inflation, geopolitical disruptions, there is increasing trade war between United States & China, increasing energy prices, digital marketing is dominated by two big players Facebook and Google, increasing inequality as vast percentage of new income is going to the top 1%, etc



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Introduction to SWOT Analysis of IRB Brasil Resseguros


SWOT stands for an organization’s Strengths, Weaknesses, Opportunities and Threats . At Oak Spring University, we believe that IRB Brasil Resseguros can use SWOT analysis as a strategic management tool to assess the current internal strengths and weaknesses of the IRB Brasil Resseguros, and to figure out the opportunities and threats in the macro environment – technological, environmental, political, economic, social, demographic, etc in which IRB Brasil Resseguros 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 IRB Brasil Resseguros can be done for the following purposes –
1. Strategic planning of IRB Brasil Resseguros
2. Improving business portfolio management of IRB Brasil Resseguros
3. Assessing feasibility of the new initiative in Brazil
4. Making a Insurance (Life) sector specific business decision
5. Set goals for the organization
6. Organizational restructuring of IRB Brasil Resseguros




Strengths of IRB Brasil Resseguros | Internal Strategic Factors
What are Strengths in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis

The strengths of IRB Brasil Resseguros are -

High brand equity

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

Superior customer experience

– The customer experience strategy of IRB Brasil Resseguros in Insurance (Life) industry is based on four key concepts – personalization, simplification of complex needs, prompt response, and continuous engagement.

Learning organization

- IRB Brasil Resseguros 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 IRB Brasil Resseguros is open place that encourages instructiveness, ideation, open minded discussions, and creativity. Employees and leaders at IRB Brasil Resseguros emphasize – knowledge, initiative, and innovation.

Innovation driven organization

– IRB Brasil Resseguros is one of the most innovative firm in Insurance (Life) sector.

Sustainable margins compare to other players in Insurance (Life) industry

– IRB Brasil Resseguros has clearly differentiated products in the market place. This has enabled IRB Brasil Resseguros to fetch slight price premium compare to the competitors in the Insurance (Life) industry. The sustainable margins have also helped IRB Brasil Resseguros to invest into research and development (R&D) and innovation.

Highly skilled collaborators

– IRB Brasil Resseguros has highly efficient outsourcing and offshoring strategy. It has resulted in greater operational flexibility and bringing down the costs in highly price sensitive Insurance (Life) industry. Secondly the value chain collaborators of IRB Brasil Resseguros have helped the firm to develop new products and bring them quickly to the marketplace.

Successful track record of launching new products

– IRB Brasil Resseguros has launched numerous new products in last few years, keeping in mind evolving customer preferences and competitive pressures. IRB Brasil Resseguros 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 Insurance (Life) industry

- digital transformation varies from industry to industry. For IRB Brasil Resseguros digital transformation journey comprises differing goals based on market maturity, customer technology acceptance, and organizational culture. IRB Brasil Resseguros 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 IRB Brasil Resseguros in the Financial sector have low bargaining power. IRB Brasil Resseguros has further diversified its suppliers portfolio by building a robust supply chain across various countries. This helps IRB Brasil Resseguros to manage not only supply disruptions but also source products at highly competitive prices.

Ability to lead change in Insurance (Life)

– IRB Brasil Resseguros is one of the leading players in the Insurance (Life) industry in Brazil. Over the years it has not only transformed the business landscape in the Insurance (Life) industry in Brazil but also across the existing markets. The ability to lead change has enabled IRB Brasil Resseguros in – penetrating new markets, reaching out to new customers, and providing different value propositions to different customers in the international markets.

High switching costs

– The high switching costs that IRB Brasil Resseguros has built up over years in its products and services combo offer has resulted in high retention of customers, lower marketing costs, and greater ability of the firm to focus on its customers.

Organizational Resilience of IRB Brasil Resseguros

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






Weaknesses of IRB Brasil Resseguros | Internal Strategic Factors
What are Weaknesses in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis

The weaknesses of IRB Brasil Resseguros are -

Capital Spending Reduction

– Even during the low interest decade, IRB Brasil Resseguros has not been able to do capital spending to the tune of the competition. This has resulted into fewer innovations and company facing stiff competition from both existing competitors and new entrants who are disrupting the Insurance (Life) industry using digital technology.

Workers concerns about automation

– As automation is fast increasing in the Insurance (Life) industry, IRB Brasil Resseguros needs to come up with a strategy to reduce the workers concern regarding automation. Without a clear strategy, it could lead to disruption and uncertainty within the organization.

Increasing silos among functional specialists

– The organizational structure of IRB Brasil Resseguros is dominated by functional specialists. It is not different from other players in the Insurance (Life) industry, but IRB Brasil Resseguros needs to de-silo the office environment to harness the true potential of its workforce. Secondly the de-silo will also help IRB Brasil Resseguros to focus more on services in the Insurance (Life) industry rather than just following the product oriented approach.

Slow decision making process

– As mentioned earlier in the report, IRB Brasil Resseguros has a very deliberative decision making approach. This approach has resulted in prudent decisions, but it has also resulted in missing opportunities in the Insurance (Life) industry over the last five years. IRB Brasil Resseguros 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 IRB Brasil Resseguros has some of the most successful models in the Insurance (Life) industry, this business model has made each new product launch extremely critical for continuous financial growth of the organization. IRB Brasil Resseguros should strive to include more intangible value offerings along with its core products and services.

High operating costs

– Compare to the competitors, IRB Brasil Resseguros has high operating costs in the Insurance (Life) industry. This can be harder to sustain given the new emerging competition from nimble players who are using technology to attract IRB Brasil Resseguros lucrative customers.

Need for greater diversity

– IRB Brasil Resseguros has taken concrete steps on diversity, equity, and inclusion. But the efforts so far has resulted in limited success. It needs to expand the recruitment and selection process to hire more people from the minorities and underprivileged background.

Slow to harness new channels of communication

– Even though competitors are using new communication channels such as Instagram, Tiktok, and Snap, IRB Brasil Resseguros is slow explore the new channels of communication. These new channels of communication can help IRB Brasil Resseguros to provide better information regarding Insurance (Life) products and services. It can also build an online community to further reach out to potential customers.

Skills based hiring in Insurance (Life) industry

– The stress on hiring functional specialists at IRB Brasil Resseguros 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.

Interest costs

– Compare to the competition, IRB Brasil Resseguros 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 bargaining power of channel partners in Insurance (Life) industry

– because of the regulatory requirements in Brazil, IRB Brasil Resseguros is facing high bargaining power of the channel partners. So far it has not able to streamline the operations to reduce the bargaining power of the value chain partners in the Insurance (Life) industry.




IRB Brasil Resseguros Opportunities | External Strategic Factors
What are Opportunities in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis


The opportunities of IRB Brasil Resseguros are -

Redefining models of collaboration and team work

– As explained in the weaknesses section, IRB Brasil Resseguros is facing challenges because of the dominance of functional experts in the organization. IRB Brasil Resseguros can utilize new technology in the field of Insurance (Life) industry to build more coordinated teams and streamline operations and communications using tools such as CAD, Zoom, etc.

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. IRB Brasil Resseguros can explore opportunities that can attract volunteers and are consistent with its mission and vision.

Buying journey improvements

– IRB Brasil Resseguros can improve the customer journey of consumers in the Insurance (Life) industry by using analytics and artificial intelligence. It can provide automated chats to help consumers solve their own problems, provide online suggestions to get maximum out of the products and services, and help consumers to build a community where they can interact with each other to develop new features and uses.

Leveraging digital technologies

– IRB Brasil Resseguros can leverage digital technologies such as artificial intelligence and machine learning to automate the production process, customer analytics to get better insights into consumer behavior, realtime digital dashboards to get better sales tracking, logistics and transportation, product tracking, etc.

Remote work and new talent hiring opportunities

– The widespread usage of remote working technologies during Covid-19 has opened opportunities for IRB Brasil Resseguros to expand its talent hiring zone. According to McKinsey Global Institute, 20% of the high end workforce in fields such as finance, information technology, can continously work from remote local post Covid-19. This presents a really great opportunity for IRB Brasil Resseguros to hire the very best people irrespective of their geographical location.

Better consumer reach

– The expansion of the 5G network will help IRB Brasil Resseguros to increase its market reach. IRB Brasil Resseguros 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.

Finding new ways to collaborate

– Covid-19 has not only transformed business models of companies in Insurance (Life) industry, but it has also influenced the consumer preferences. IRB Brasil Resseguros can tie-up with other value chain partners to explore new opportunities regarding meeting customer demands and building a rewarding and engaging relationship.

Building a culture of innovation

– managers at IRB Brasil Resseguros can make experimentation a productive activity and build a culture of innovation using approaches such as – mining transaction data, A/B testing of websites and selling platforms, engaging potential customers over various needs, and building on small ideas in the Insurance (Life) industry.

Low interest rates

– Even though inflation is raising its head in most developed economies, IRB Brasil Resseguros can still utilize the low interest rates to borrow money for capital investment. Secondly it can also use the increase of government spending in infrastructure projects to get new business.

Harnessing reconfiguration of the global supply chains

– As the trade war between US and China heats up in the coming years, IRB Brasil Resseguros 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 IRB Brasil Resseguros to buy more products closer to the markets, and it can leverage its size and influence to get better deal from the local markets.

Reforming the budgeting process

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

Use of Bitcoin and other crypto currencies for transactions in Insurance (Life) industry

– The popularity of Bitcoin and other crypto currencies as asset class and medium of transaction has opened new opportunities for IRB Brasil Resseguros in the Insurance (Life) industry. Now IRB Brasil Resseguros can target international markets with far fewer capital restrictions requirements than the existing system.

Using analytics as competitive advantage

– IRB Brasil Resseguros has spent a significant amount of money and effort to integrate analytics and machine learning into its operations in Insurance (Life) sector. This continuous investment in analytics has enabled IRB Brasil Resseguros to build a competitive advantage using analytics. The analytics driven competitive advantage can help IRB Brasil Resseguros to build faster Go To Market strategies, better consumer insights, developing relevant product features, and building a highly efficient supply chain.




Threats IRB Brasil Resseguros External Strategic Factors
What are Threats in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis


The threats of IRB Brasil Resseguros are -

Consumer confidence and its impact on IRB Brasil Resseguros 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 Insurance (Life) industry and other sectors.

Increasing international competition and downward pressure on margins

– Apart from technology driven competitive advantage dilution, IRB Brasil Resseguros 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 IRB Brasil Resseguros prominent markets.

Trade war between China and United States

– The trade war between two of the biggest economies can hugely impact the opportunities for IRB Brasil Resseguros in Insurance (Life) industry. The Insurance (Life) 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.

Regulatory challenges

– IRB Brasil Resseguros 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 Insurance (Life) industry regulations.

Easy access to finance

– Easy access to finance in Insurance (Life) industry will also reduce the barriers to entry in the industry, thus putting downward pressure on the prices because of increasing competition. IRB Brasil Resseguros can utilize it by borrowing at lower rates and invest it into research and development, capital expenditure to fortify its core competitive advantage.

Instability in the European markets

– European Union markets are facing three big challenges post Covid – expanded balance sheets, Brexit related business disruption, and aggressive Russia looking to distract the existing security mechanism. IRB Brasil Resseguros will face different problems in different parts of Europe. For example it will face inflationary pressures in UK, France, and Germany, balance sheet expansion and demand challenges in Southern European countries, and geopolitical instability in the Eastern Europe.

Stagnating economy with rate increase

– IRB Brasil Resseguros 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 Insurance (Life) industry.

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. IRB Brasil Resseguros needs to understand the core reasons impacting the Insurance (Life) industry. This will help it in building a better workplace.

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.

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 IRB Brasil Resseguros.

Environmental challenges

– IRB Brasil Resseguros needs to have a robust strategy against the disruptions arising from climate change and energy requirements. EU has identified it as key priority area and spending 30% of its 880 billion Euros European post Covid-19 recovery funds on green technology. IRB Brasil Resseguros can take advantage of this fund but it will also bring new competitors in the Insurance (Life) industry.

Increasing wage structure of IRB Brasil Resseguros

– Post Covid-19 there is a sharp increase in the wages especially in the jobs that require interaction with people. The increasing wages can put downward pressure on the margins of IRB Brasil Resseguros.

Aging population

– As the populations of most advanced economies are aging, it will lead to high social security costs, higher savings among population, and lower demand for goods and services in the economy. The household savings in US, France, UK, Germany, and Japan are growing faster than predicted because of uncertainty caused by pandemic.




Weighted SWOT Analysis of IRB Brasil Resseguros Template, Example


Not all factors mentioned under the Strengths, Weakness, Opportunities, and Threats quadrants in the SWOT Analysis are equal. Managers at IRB Brasil Resseguros 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 IRB Brasil Resseguros 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 IRB Brasil Resseguros 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 IRB Brasil Resseguros 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 IRB Brasil Resseguros needs to make to build a sustainable competitive advantage.



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