Dissertation- Insurers who can plan and anticipate for changes can create their own future
Main Company: Great Eastern Life Assurance Co Ltd
Competitor: AIA Group Limited & Manulife (Singapore) Pte Ltd
Introduction of the Project
This purpose of this research is to identify business opportunity for Great Eastern Co Ltd in this challenging business environment with many new rising players while facing tremendous pressure from the regulatory requirement.
Due to the continuous gloomy economy and market disruption, it demoralise the spending momentum and affect the profit margin especially for financial institution such as Great Eastern - the oldest and the most established insurer in Singapore.
The researcher's objective is to analyse the external environment such as the market condition/analyse, internal environment such as organization's resource capability so as to provide the most appropriate recommendation and new strategies for Great Eastern to regain their competitive advantage. The researcher's recommendation will enable Great Eastern to improve and prepare for market recovery, lastly using their competitive advantagetogain and expand their market share.
Problem Statement
Due to the rising level of competition, market disruption and economy slowdown in the global market, Great Eastern has realised their profit margin has been reduce significantly. Operational cost, expenses was reported to have increase while new business and premium revenue was seen to have dropped for the past few years.
The researcher will investigate the reason for the rising operational cost as well as the decreased in premium revenue and insurance sales volume.
Research Question
Did Great Eastern fufill the needs and demand from their stakeholders?
Are the price justifiable and acceptable for their product/services provided?
What are their strategies for pricing, marketing and distribution?
What kind of value added services did they offered?
What kind of product/services are they offering?
What is the current business strategy?
Are the business strategies realistic, achievable?
Are the current business function supporting the business strategy?
Are the current resources capable enough to support the business strategy?Chapter 01: Introduction
(This part should focus on what the dissertation is all about, why it is important, research questions or hypotheses, Problem background, problem statement, significance and importance of research, research objectives, research application, and research type.)
Chapter 02: Literature Review
(This chapter should be: a critical analysis of what other researchers have said and where your topic fits in. And theoretical framework should explain proper way in this part)
Chapter 03:
Part A: Industry Profile
(This part should talks about Industry profile, Evolution particular the Industry, Growth, prospect, market share of the industry.)
Part B: Company Profile
(This part should carries About Company profile, Mission/ Visions / core and societal values, corporate partner, Competitors, Awards and rewards
(If any) , Product / Service profile , Strategy) (Company's stats, projection should be in appendix) (Maximum number of words in this chapter 3: 1500 words)
Chapter 04: Research Design and Methodology
(This chapter talks about why certain data was collected and how it was collected and analysed. It should carry the heading like Introduction, Research objectives, Need of the study, Research Design and the Methodology must be discussed and tell if the approach is appropriate - Sample Size, Area Coverage, Sample design, Data collection methods, Data analysis tools and techniques, Ethical considerations, Research limitations, conclusion).
(Only theory, no data to be presented here)
Chapter 05: Data Analysis and Interpretation
[This part should show how you're analysing your collected data and how you are going to represent those data in the format (table, graph, calculation etc.) and interpretations of your analysed data]
You should be able to tell if the data is accurately presented and analysed or is it just simply a description? Are appropriate theory applied or is there any attempt to interpret the findings?
Chapter 06: Findings
(After Analysing and interpretation of your data, what you have found out from your results and research of your study)
Chapter 07: Conclusions, Recommendations
(Conclusion part should be highlighted the description of the main lessons to be learned from the study and what future research could be carried out, and also limitation and future research discussed)
Is the conclusion reasoned or does it correspond with the objectives of the dissertation?
(Recommendation part should be highlighted based on the findings)
Chapter 08: References and Bibliography
(References are a detailed list of sources from which information has been obtained and which has been cited in the text)
(The Bibliography is a detailed list of other sources you have used but not cited)
Attachment:- Insurance-2020-turning-change-into-opportunity.pdf