COMPANY PROFILE -Willis Towers Watson
Business Sector :Risk management, Insurance Brokerage and Advisory
Operating Geography :United Kingdom, Europe, Global
About Willis Towers Watson :
Willis Towers Watson Public Limited Corporation is multinational risk management, insurance brokerage, and consultancy company headquartered in London, United Kingdom. The company dates back to 1828. In 2009, Towers Watson was founded by combining the deals of Towers Perrin and Watson Wyatt. Human Capital and Benefits (HCB), Corporate Risk and Broking (CRB), Investment, Risk and Reinsurance (IRR), and Benefits Delivery and Administration (BDA) are the segments through which the company operates. Employee benefit plans, human resources companies, and management teams can get advice, broking, solutions, and software from the HCB category. Clients ranging from small companies to corporations are served by the CRB division, which provides risk advising, insurance broking, and consultancy services. The IRR division focuses on assisting clients with capital release and investment complexity management. The BDA sector provides current employees and retirees in both the group and individual markets with medical and ancillary benefit exchange and outsourcing services. Following the events in Eastern Europe, WTW declared in April 2022 at the publication of its annual Energy Market Review that the need to manage energy transition risk is being expedited by the demand to find alternative energy sources to oil and gas.
Willis Towers Watson's USP lies in its being the world's third-largest insurance broker, with operations in over 140 countries and a workforce of over 45,000 employees. The mission statement of Willis Towers Watson reads, "We design and deliver solutions that manage risk, optimize benefits, cultivate talent, and expand the power of capital to protect and strengthen institutions and individuals".
Willis Towers Watson Revenue :
$8,998 million - FY ending 31st December 2021 (y-o-y growth 4%)
$8,615 million - FY ending 31st December 2020
Competitive Analysis of Willis Towers Watson
The SWOT analysis for Willis Towers Watson is presented below in a matrix followed by the detailed analysis report:
| Strengths | Weaknesses |
1. Strategic acquisitions have ensured the geographic expansion of the company into new countries.
2. Growth in the cash and cash equivalents alongside rich returns to shareholders.
3. Catering services to over 30 million individuals in about 140 countries and markets.
4. Partnership and tie-ups with top companies among Fortune 500, FTSE 100 and Fortune 1000.
5. Employs data analytics and modern technology driven solutions
| 1. Recent reorganization of the business segments and leadership may impact business functions and growth.
2. Operational risks due to strategy driven business wherein objectives might not meet financial goals.
3. Acquisitions, management of new businesses, and divestments may affect financial conditions of the company
|
| Opportunities | Threats |
1. The company has an opportunity to transform its operations and increase profitability by transforming its technology and optimizing its processes.
2. Introduce stellar employee welfare schemes in the industry in order to attract and retain the best talents of the industry and decrease attrition
3. The company can enter or expand into new domains of risk management advisory services
| 1. Significant rise in the attrition rate of the company in 2021 reflects cutting competition for talent in the industry.
2. Covid-19 variants may have negative effects on client demand and cash flow of the business.
3. Increasing competition from new age customer driven fintech companies can reduce the market share of WTW.
|
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Detailed SWOT Analysis of Willis Towers Watson
Strength
1. Strategic acquisitions have ensured the geographic expansion of the company into new countries: Willis Towers Company is present in around 140 countries and markets its services around the globe. The company is rapidly expanding its footprints across the globe. Recent acquisitions by the company point to the fact that the management of the company is well determined to enter new geographies. The company recently entered into Italy by acquiring Rome based insurance broker DM insurance. This deal has helped the company in entering into a new geography. Apart from this deal, Willis Towers Watson has also got approval for acquiring 51% shares in their Willis Towers Watson India. Earlier, the Indian branch was a joint venture but now WTW will own the whole branch and has received approval from IRDA. Apart from these deals, the company had acquired specialist aviation broker Aerosure in the December month of last year to increase its aviation insurance and risk offering for the aviation industry in Australia and New Zealand. In the year 2020, Willis Towers Watson had also acquired a climate analytics firm to provide climate risk insurance advisory.
2. Growth in the cash and cash equivalents alongside rich returns to the shareholder: The objective of the company’s management is to build strong financial and business fundamentals. The company is also focused towards improving its free cash flow yield and maximizing its liquidity. Generating an increasing cash flow gives the firm advantages in terms of investment activities. Free cash flow also reduces the uncertainty in terms of shareholder value. If a company generates an increased amount of free cash flow, then it is more likely to gain the investors’ trust. The cash flow of the company has increased substantially over the past year. It has almost doubled in comparison to the previous year. This comes in as a strength for the company. In terms of shareholder value, the company has provided increasing returns in the past years. The dividends distributed among the shareholders have increased over the past years. The dividend per share has also increased and the company has also frequently brought back its own shares. This provides courage to the shareholders to invest in the company.
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
This section 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 Willis Towers Watson is presented below in a table followed by the detailed analysis report:
| Political | Economical |
1. The UK exited from the European Union in 2020 and there is a risk that other countries may follow.
2. Sanctions imposed by countries on Russia and reverse sanctions may cause an adverse impact on global businesses
| 1. Interest rates are expected to be raised by US and UK governments to tackle inflation in coming months.
2. The inflation rates are high in the global markets which is affecting credit availability and reducing purchasing power
|
| Social | Technological |
| 1. Personal lines consumers are looking for holistic protection from every kind and forms of adversity. | 1. Insurance broking firms are continuing to invest in new technologies like AI, automation, big data while expanding the use of mobile devices.
2. Digital platforms and digital marketing strategies are being deployed by Insurance brokerage firms for brand promotion and trust building in the competitive market.
3. The technology adoption among consumers is growing and there is an increased demand for digital servicing.
|
| Legal | Environmental |
1. Countries around the world are becoming aware about data protection and are introducing data protection or regulation laws.
2. Broking channel is seeing dynamic changes in the regulatory and compliance landscape in the areas of fraud, third-party risk management, market conduct, general data protection regulation etc.
| 1. Insurers have the opportunity to provide innovative solutions related to climate change risk management. |
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Detailed Pestle Analysis of Willis Towers Watson
Political
This section 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
1. Insurers have the opportunity to provide innovative solutions related to climate change risk management: Climate change is a global phenomenon which can have different effects on the environment. Frequent natural disasters, rise in the earth temperature etc. are some of the effects of climate change. Climate change possesses certain risks to the businesses operating in the areas prone to natural disasters. Businesses have already started to factor in the risk coming from climate change. This provides insurance service providers to manage and estimate the risk from climate change and provide risk management advice to businesses. Many companies have started providing such services. Willis Towers Watson has also started providing services on the similar lines. In 2020, WTW acquired a climate analytics company in order to provide climate risk insurance services to businesses. This can be a positive development for the company and it will ensure that the company is at par with the competitors.
The remaining section under 'Environmental' is available only in the 'Complete Report' on purchase.
Major Competitors :
- Marsh & McLennan
- Aon
- Arthur J. Gallagher
- Lockton
- Roland Berger
- Capco
Major Brands :
- Gras Savoye (Subsidiary)
- Towers Watson (subsidiary)
- Willis Risk Services (subsidiary)
- MG LLC (subsidiary)
On purchase the Willis Towers Watson SWOT and PESTLE Analysis PDF report will reach you within minutes. At rare times, a slight delay not exceeding 1 hour might be caused.
TABLE OF CONTENTS
DELIVERY AND FORMAT
WHY CHOOSE US?
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References used in Willis Towers Watson SWOT & PESTLE Analysis Report
1. Insurance Insider article - https://www.insuranceinsider.com/article/29evw07jnek53su5ng3cw/willis-tower-watson-acquires-aviation-broker-aerosure
2. Insurance Business Mag - https://www.insurancebusinessmag.com/asia/news/breaking-news/wtw-announces-full-acquisition-of-indian-joint-venture-402192.aspx
3. Europe funds - https://www.funds-europe.com/news/willis-towers-watson-buys-climate-analytics-firm
4. Static Files - https://investors.wtwco.com/static-files/c4d482c5-8c99-475f-9033-f1b1fb9cf6f1
5. Som.Yale.Edu 2022 - https://som.yale.edu/story/2022/over-600-companies-have-withdrawn-russia-some-remain?utm_campaign=mb
The detailed complete set of references are available on request in the 'Complete report' on purchase.
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Willis Towers Watson SWOT and PESTLE analysis has been conducted by Sohil Sankalp and reviewed by senior analysts from Barakaat Consulting.
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