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develop swot matrix of the following data (strength, weakness, opportunity and threat) Opportunity Promising peace and stability in the country
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develop swot matrix of the following data (strength, weakness, opportunity and threat) Opportunity

·    Promising peace and stability in the country

·    foreign investors inviting policy

·    introduction of new compulsory and regulatory insurance schemes

·    risk based insurance management

·    increase in paid-up capital

·    Growth of Foreign Direct Investment (FDI).

·    Rural and micro insurance will flourish

·    The prevailing free market economy

·    Expansion of infrastructural developments.

·    Establishment of Industrial village.

·    Privatization of state-owned Industries

·    national growth and transformation plan (GTP)

·    encouraging growth of financial sector

·    small scale manufacturing improved and industrialization policy

·    Establishment of domestic reinsurance company

·    Expansion of private investment.

·    International Financial Reporting Standards(IFRS) compulsory declaration

·    population growth

·    Increasing demand and awareness of the public  for insurance service

·    awareness about traffic accidents

·    great contribution of social media


·        composition of Board of Directors from different discipline and experience

·        existence of system, manuals and procedures

·        prevalence of internal control system & its accountability to the Board

·        existence of board sub-committees

. .   

o  Existing of loyal potential major shareholders

o  Smooth relation and collaboration and common understanding between Management and Board of Directors

·  professionally competent senior and mid-level management

·  performance evaluation for staff is in place

·  Sound financial status

·  Existence of Income generating entities

·  Strong capital base

·  Adequate human resources

·  Having good logistics

·  launching of the Information Technology project

·  reasonable speed while settling claim,

·  Working with reputable re insurers. 

·  having own building

·        change in the life style of people

·   Minimum premium set by National Bank for new entrants

·    availability of insurance software

·    Developed  Information Technology infrastructure

·    soil and water conservation work improved

·    improvement of irrigation schemes

·    Low natural calamities.


·    extent of corruption increased despite the effort to reduce it

·    unnecessary interventions of the government on the business sector

·    loose on enforcement of the regulatory

·    increasing interest of developed & middle East countries on horn of Africa (especially on Read Sea area)

·     Accession towards World Trade Organization (WTO).

·    shortage of foreign currency

·     high inflation rate

·    unfavorable trade balance (import > export)

·    high investment cost of technology

·    tight and strict domestic borrowing procedures

·    entrants of new insurance companies 

·    continued unfair price competition in the insurance sector

·    frequent devaluation of local currency

·    Customers price sensitivity;

·    Alarming growth of motor accidents

·    Shortage of skilled & experienced personnel in the market

·    Low standard of living

·    weak purchasing power of the local currency

·        beliefs and culture of the society towards insurance business

·    Unfavorable directive of National Bank of Ethiopia(NBE)

·    telecom service insufficiency

·    beginning of online insurance service

·    shortage of skilled and experienced Information Technology professionals

·    power shortage

·    Sophistication and high cost of  information Technology software and infrastructure.

·    draught in some areas

·    deforestation continued

·    urban pollution increased by car, factories for the rivers and lakes decrease in their water level 


·        Sometimes there are delays in the decision-making process.

·        Risk management unit is not yet functional.

·        lack of risk management unit and manual put in place

·        Lack of aggressive market penetration

·        Insufficient  relationship with intermediaries.

·        Absence of succession plan.

·        Insufficient marketing and promotional activities.

·        Weak Internal Control System.

·  Absence of shared vision

·  No clear strategic direction

·  Limited synergy and team work

·  poor performance management

·  inconsistency in decision making

·  unsatisfactory human and physical resource management practice

·  unsatisfactory customer service delivery practices

·  Poor portfolio mix.

·  Lack of leadership

·  Lack of Strong Management Information System

·        lack of timely provision, allocation and disbursement of fund

·        Uncompetitive Salary Scale & Benefit Scheme

·        Poor budget expense control system

·        weak Human Resource Management Facility

·        staff competence depletion because of high turnover

·        Lack of consistent staff training

·        Shortage of skilled and dedicated man power

·        poor office layout and space shortage in some work units

·        improper utilization of vehicles

·        Poor resource handling

·        Poor inventory management

·  functions not yet automated

·        inadequate customer consultation service

·        Narrow product/service line

·        Very Low market share

·        Low branches networking

·        Inadequate branches expansion.

·        low level of focus on innovation & new product development

·        Poor underwriting practices

·        Lack of appropriate authority limit

·        Poor relationship with reputed Banks.

·        Inability to attract expanded professional from the market

·        Weak shock absorption.

·  Company procedures and gridlines  not properly adhered

·  inefficient formal internal communication system

·  No standard facilities & office lay out.

· relatively weak promotional work

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Subject: Business, Management

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