20th Century (Public Relation)
MARKETING 438
PUBLIC RELATIONS
MAJOR CASE PRESENTATION
20TH CENTURY INSURANCE COMPANY
BY
Branson C. Nicholson
Nichelle Cox
Rhonda Porter
1lb4198
02/17/99
Instructor: Paula Becker
UNIVERSITY OF PHOENIX
Long Beach Campus
Table of Contents
History, Position, Targeted Market, Goals Page 3
Northridge Earthquake, Crisis Page 4
Comeback Kid, Results of PR Campaign Page 6
Developing a Crisis Plan, Page 7
Crisis Team, Milestones for Communication Page 8
Issues Page 9
Plan Approval, Anticipated competitive responses Page 11
Recommended press release Page 14
References Page 15
Appendix A Page 16
History
20th Century Insurance was established in 1958 and was the first company of its kind to sell automobile insurance without a middleman, known in the industry as a broker or agent. This direct sales approach allowed 20th to offer insurance at a much lower premium than its competitors. To date, 20th Century Insurance is still recognized as one of the most economical full service automobile insurers in the California market.
Position
In terms of market share, 20th Century is the fifth-largest car insurer in the state. The company 's credit rating was recently upgraded from a B- to BBB+ and its stock is being traded around $21.50.
20th Century is also among the Valley 's (headquarters office location) largest firms in both market capitalization and employees. The company currently employs in over 2,000 people.
Targeted market For the first 30 years of the company 's existence it enjoyed huge profits from selling only automobile insurance. These large profits were achieved, due in part, to its targeted market which are generally people in the age range of 30-60 who are classified as a low risk "good drivers". The company 's structure of selling insurance directly to the customer while providing excellent customer service is also a driving force to its success.
PUBLIC RELATIONS
MAJOR CASE PRESENTATION
20TH CENTURY INSURANCE COMPANY
BY
Branson C. Nicholson
Nichelle Cox
Rhonda Porter
1lb4198
02/17/99
Instructor: Paula Becker
UNIVERSITY OF PHOENIX
Long Beach Campus
Table of Contents
History, Position, Targeted Market, Goals Page 3
Northridge Earthquake, Crisis Page 4
Comeback Kid, Results of PR Campaign Page 6
Developing a Crisis Plan, Page 7
Crisis Team, Milestones for Communication Page 8
Issues Page 9
Plan Approval, Anticipated competitive responses Page 11
Recommended press release Page 14
References Page 15
Appendix A Page 16
History
20th Century Insurance was established in 1958 and was the first company of its kind to sell automobile insurance without a middleman, known in the industry as a broker or agent. This direct sales approach allowed 20th to offer insurance at a much lower premium than its competitors. To date, 20th Century Insurance is still recognized as one of the most economical full service automobile insurers in the California market.
Position
In terms of market share, 20th Century is the fifth-largest car insurer in the state. The company 's credit rating was recently upgraded from a B- to BBB+ and its stock is being traded around $21.50.
20th Century is also among the Valley 's (headquarters office location) largest firms in both market capitalization and employees. The company currently employs in over 2,000 people.
Targeted market For the first 30 years of the company 's existence it enjoyed huge profits from selling only automobile insurance. These large profits were achieved, due in part, to its targeted market which are generally people in the age range of 30-60 who are classified as a low risk "good drivers". The company 's structure of selling insurance directly to the customer while providing excellent customer service is also a driving force to its success.
References: Gross, A. (1998). Catastrophe planning: An essential part of comprehensive risk management. Insurance Advocate Kamer, L Newsom, D., Turk-Vanslyke, J., & Druckeberg, D. (1996). This is PR: The realities of public relations 6ed. United States: Wadsworth Publishing Sanders, E Schnaible, R. (1994) 20th Century Times: Earthquake!, January Shinkman, R Sparks, D. (1995) On the Road Again. Financial World, December 5 Stavro, B Sullivan, B.(1999) Daily News: Comeback for 20th Century Insurance, January 13 Yoshitake, D