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Rivalry Among Existing Competitors
In this section of the industry analysis we will discuss one of Porter’s 5 forces: rivalry among existing competitors. Rivalry occurs because one or more competitors either feels the pressure or sees the opportunity to improve position.(Porter, 1980) Tactics like price competition, advertising battles, and product introductions are some examples of ways rivals compete in many industries. During our research we discovered that competition in the insurance industry is high from different factors, such as company size advantages, strict regulations, differentiation, and pricing. From the information gathered we will understand why the level of intensity is high among existing competitors within the insurance industry.
About 130,000 insurance agencies and broker offices in the U.S. generate annual revenue of $85 billion. Large companies include Marsh & McLennan, Arthur J. Gallger and Anon. Despite the prominence of large companies in the......


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Approximate Word Count: 585
Approximate Pages: 3 (250 words per double-spaced page)

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