COMPANY PROFILE -Brighthouse Financial Inc.
Business Sector :Insurance and Financial Services
Operating Geography :United States, North America, Global
About Brighthouse Financial Inc. :
With its headquarters in Charlotte, North Carolina, Brighthouse Financial, Inc. is a American firm that offers insurance and financial management services. MetLife, Inc. announced its plans to split a significant piece of its U.S. Retail business in January 2016, and in August 2017, Brighthouse Financial completed its separation from MetLife, Inc. and became an independent firm. It offers income, fixed, index-linked, variable, and other annuity products. Additionally, the corporation provides a variety of life insurance products, including term, universal, whole, and variable life insurance. The firm has marketing agreements with a wide network of distribution partners and makes use of a variety of independent distribution channels to advertise its goods and services. The run-off business of Brighthouse Financial consists of activities involving goods that are not actively sold and independently managed. Brighthouse Financial, Inc. announced the addition of Brighthouse Shield Level Pay PlusSM Annuities to its line of Brighthouse Shield® Level Annuities in August, 2022. These new products are intended to support clients' retirement portfolios by supplying a stream of guaranteed lifetime income.
Brighthouse Financial Inc.'s USP lies in its being one of the top annuity and life insurance providers in the United States with over 2 million active annuity contracts and life insurance policies, trusted by over 2 million consumers. The mission statement of Brighthouse Financial Inc. reads, "to Help People Achieve Financial Security".
Brighthouse Financial Inc. Revenue :
US$ 7,142 million - FY ending 31st December 2021 (y-o-y growth -16.0%)
US$ 8,503 million - FY ending 31st December 2020
Competitive Analysis of Brighthouse Financial Inc.
The SWOT analysis for Brighthouse Financial Inc is presented below in a matrix followed by the detailed analysis report:
| Strengths | Weaknesses |
1. Large network of strategic relationship managers and wholesalers
2. Diversified product portfolio for all segments of the population
3. Forming strategic partnership to offer better products to clients
4. Consistent performance and strong balance sheet
| 1. Vast number of regulations need to be followed
2. Risk of reduced profitability due to poor risk management of company’s variable annuity exposure
3. Adverse impact of COVID 19 on the company
|
| Opportunities | Threats |
1. Use of advanced data analytics and technology for better insights into the premiums and products offered
2. Rising number of under insured individuals in USA
3. Collaborations with InsurTech to provide better products to clients
4. Utilization of AI and automation for faster claims giving better user experience
5. Increased life expectancy making guaranteed lifetime income an important consideration
| 1. Threat of cyber-attacks and breach of personal data of customers
2. Strong competition with rival companies in the insurance business
|
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Detailed SWOT Analysis of Brighthouse Financial Inc.
Strength
1. Large network of strategic relationship managers and wholesalers: Brighthouse Financial intends to be a top seller of annuities and life insurance products to its distribution partners. The business has about 250 internal and external wholesalers, as well as about 20 strategic relationship managers ("SRMs"). The company's biggest distributors of annuities and life insurance are handled by SRMs, who also manage the communication between Brighthouse and the distributor. SRMs offer partners who need more resources to support their wider distribution network a higher calibre of service. SRMs are in charge of monitoring sales and activity data and providing it to the company's major distributors. Wholesalers are authorised sales representatives tasked with supporting the company's distributors with regard to the products they sell as well as facilitating transactions between our distributors and the customers they support. From hubs in Charlotte and Phoenix, the company's 100 internal wholesalers support its distributors by handling telemarketing and online sales support tasks. The remaining 150 external wholesalers are salespeople who are in charge of giving its distributors on-site, face-to-face product and sales support. These foreign wholesalers operate in particular regions of the nation. Brighthouse Financial has access to the entire US market because of its well-established supply chain.
The remaining section under "Strength" is available only in the 'Complete Report' on purchase.
Weakness
This section is available only in the 'Complete Report' on purchase.
Opportunity
1. Use of advanced data analytics and technology for better insights into the premiums and products offered: With the help of new tech-enabled data sources like wearables, the Internet of Things, and mobile-enabled InsurTech apps, premiums are likely to become highly personalised. Property and Casualty (P&C) insurers will be able to extract accurate real-time data on the loss exposure of specific customers as the market for connected devices is expected to grow rapidly over the next few years. A partnership between a European insurance company and Panasonic made use of Panasonic sensors to send mobile alerts to both the insurer and its clients, enabling quick and informed problem-solving. Insurance companies will be able to acquire high-definition images for remote and precise property estimations and analysis as drone and imaging technology advances. Relationships between data sets will be used to gain insights that will help to fine-tune individual risk profiles and shield insurers from new risk exposures. A U.S. insurer, according to a WNS report, uses a telematics device to give drivers real-time feedback to promote safe driving. Customers were able to reduce their insurance premiums by up to 40% as a result. Dynamically segmenting users and their needs, modelling behaviours and identifying exceptions, adjusting policy prices, enhancing business strategies, and spotting new growth opportunities are all possible with advanced analytics. As a result, the business can take advantage of this chance to increase its own profits.
The remaining section under "Opportunity" is available only in the 'Complete Report' on purchase.
Threat
This section is available only in the 'Complete Report' on purchase.
The PESTLE analysis for Brighthouse Financial Inc is presented below in a table followed by the detailed analysis report:
| Political | Economical |
1. Impact of Biden administration on banking and insurance businesses
2. Impact of US-China trade war on the financial sector
| 1. Impact of COVID 19 on the insurance industry |
| Social | Technological |
1. Rising disposable income among people may lead to rise in insurance investments
2. Aging population of USA may lead to more demand in insurance products
| 1. Digitalisation of claims and insurance industry
2. Risk of cyber-attacks for companies operating in the insurance business
|
| Legal | Environmental |
1. Insurance and reinsurance laws need to be followed in USA
2. User data privacy laws have to be adhered
| 1. Rising trends towards ESG investing methodology |
Brighthouse Financial Inc. SWOT and PESTLE Analysis PDF Report is a custom report and will be delivered to your email inbox within 2 business days from purchase.
Detailed Pestle Analysis of Brighthouse Financial Inc.
Political
1. Impact of Biden administration on banking and insurance businesses: To ensure that banks and nonbank financial institutions, particularly mortgage and insurance companies, are giving credit access to all community members while closing loopholes that allow institutions to avoid investing in community development, Biden had expressed support for strengthening and expanding the Community Reinvestment Act. Numerous consumer protections put in place by Dodd-Frank were reversed by the Consumer Financial Protection Bureau ("CFPB") under Trump. With a renewed focus on reducing abusive or dishonest lending practises and improving lending cost transparency for borrowers, Biden is anticipated to revitalise the CFPB. A favourable environment for the development of fintech could be created by Biden's support for increased access to financial services, the establishment of a public credit-reporting agency, and the promotion of fair lending practises. More partnerships between fintechs and banks will probably be made possible by a more accommodative regulatory environment for fintechs. Through these collaborations, banks and fintechs could each benefit from the other's capital resources and customer base in order to offer more affordable financial services to a larger portion of the American population. Businesses in this industry must be prepared for these changes under the new administration and must take care of them.
The remaining section under "Political" is available only in the 'Complete Report' on purchase.
Economic
This section is available only in the 'Complete Report' on purchase.
Social
This section is available only in the 'Complete Report' on purchase.
Technological
This section is available only in the 'Complete Report' on purchase.
Legal
This section is available only in the 'Complete Report' on purchase.
Environmental
This section is available only in the 'Complete Report' on purchase.
Major Brands :
- Brighthouse Smartcare
- Brighthouse Shield
- Brighthouse SecureAdvantage
- Brighthouse SimpleSelect
Brighthouse Financial Inc. SWOT and PESTLE Analysis PDF Report is a custom report and will be delivered to your email inbox within 2 business days from purchase.
TABLE OF CONTENTS
DELIVERY AND FORMAT
WHY CHOOSE US?
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Check Out Analysis of Other Relevant Companies
References used in Brighthouse Financial Inc. SWOT & PESTLE Analysis Report
1. Annual Report - https://investor.brighthousefinancial.com/static-files/b7bccd04-6f46-4a89-8d1a-101e03e8816e
2. Top 5 Trends in the Insurance Industry - https://www.wns.com/insights/articles/articledetail/590/top-5-trends-in-the-insurance-industry
3. How a Biden administration will impact the banking, financial landscape - https://www.wallerlaw.com/news-insights/3804/How-a-Biden-administration-will-impact-the-banking-financial-landscape
4. More pain than gain: How the US-China trade war hurt America - https://www.brookings.edu/blog/order-from-chaos/2020/08/07/more-pain-than-gain-how-the-us-china-trade-war-hurt-america/
The detailed complete set of references are available on request in the 'Complete report' on purchase.
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