Natural disasters, accidents, fire, and fatal injuries are such events as may jeopardize our life in seconds. Many a time, these events are beyond our control and we are therefore compelled to succumb to them. However, you can avert this sort of serious consequences; you can contact a life, car and home insurance company to have an insurance policy.
In this article, I have written about the top insurance companies which have a good track record in terms of policy, service and customer satisfaction. In the first category, I have covered the largest companies based on their market capitalization. All of them are non-health insurance companies.
AIA Group Ltd
AIA Group is a Hong Kong-based life insurance group. Their services include writing life insurance for both the individuals and businesses as well as cases related to accidents and health issues. Besides, they offer retirement planning, and wealth management services.
It is the largest Pan-Asian life insurance, group. Its market has been expanded in 18 different countries including China, Australia, New Zealand, India, and Cambodia. Their market cap is worth $121.65 billion.
Allianz SE was founded in 1890. The organizations headquarter is in Germany. It is also a leading financial services company, providing products and services from insurance to asset management. Allianz services reach to more than 70 countries.
Insurance services range from property and casualty to health and life insurance. These products and services are available for both corporate and individual customers. Allianz’s market cap was as high as $101.57 billion.
AXA is operating in 56 countries. AXA is one of the oldest companies founded in 1816. It mainly deals with property and casualty insurance, life insurance, savings, and asset management. The headquarter is situated in Paris. This company covers Africa, North America, Central, and South America, Asia Pacific, Europe, and the Middle East. The market cap of AXA Group was $56.56 billion.
ING Group is from Denmark. It was founded in 1991. The company provides a wide range of services including retail, direct, commercial, and investment banking, insurance, and asset management. All kinds of services are provided for more than 37 million clients. Their reach is over 40 countries.
Moreover, in the year 2018ING established its partnership with AXA. The biggest beneficiary of this partnership is their clients because they have now made insurance products available online through a centralized platform. ING’s market cap was around $52.33 billion.
Warren Buffet has made Berkshire Hathaway, one of the leading companies of the world. It was founded in 1889. It provides services that are different from its competitors. It is working with many sectors, such as rail, finance, utilities and energy, manufacturing, services, and retail through its subsidiaries. The company offers primary insurance plus reinsurance of property and casualty risks. It’s market cap was $514.57 billion.
Ping An of China
China is also not far behind in insurance services. One of the pioneers in this field is Ping An of China. It became popular because of adopting a shareholding structure. It deals primarily with insurance, financial services, and banking. It is indeed among the top 50 companies listed on the Shanghai Stock Exchange.
It has earned the reputation of being the largest asset management and investment companies in the world. Its subsidiaries include Ping An Life, Ping An Property & Casualty, Ping An Annuity, and Ping An Health. The company’s market cap was $243.57 billion. Its headquarter is located in Shenzhen, China. The company’s market cap as high as $118.95 billion.
The company is popular for advertising their services, namely insurance and employee benefits and annuities. Met Life serves more than 90 million customers in more than 60 countries. MetLife has a market cap of $44.65 billion.
The company’s affiliates and subsidiaries include MetLife Investors and MetLife Bank, which were sold to GE Capital in 2013. MetLife reported a net income of $2 billion in the fourth quarter of 2018, with total revenue of $15.66 billion.
United Health Group
The United Health Group (UNH) is one of the most diversified health care businesses in the United States. Its two business platforms—UnitedHealthcare for health benefits and Optum for health services are working together.
This Health Group is currently serving more than 115 million people in every U.S. state as well as 125 other countries. Their aim is to improve the performance of health care. For this reason, they have invested to build up experience and resources in clinical care. The company’s market cap was $221.43 billion.
American International Group (AIG)
AIG is operating in 80 different countries. It was founded in Shanghai in 1919. Its headquarter is in NYC. The Company provides a wide range of property-casualty insurance, life insurance, retirement products, and other financial services to its clients. Its operating areas can be divided into four segments like Commercial Insurance, Consumer Insurance, Other Operations, and Legacy Portfolio.
The Commercial Insurance section works with insurance products and services for commercial customers. It deals with property-casualty networks. The Consumer Insurance segment, on the other hand, is a charter that has a portfolio of retirement, life insurance, and personal insurance products.
These services are offered through multiple distribution networks. The Other Operations are for businesses and items not attributed to other modules. The Legacy Portfolio is all about Legacy Property and Casualty Run-Off Insurance Lines. Its market cap is $ 72.3 billion.
Ranking the largest insurance companies is based on at times on shares of publicly traded companies. These can be bought to build a well-diversified investment portfolio. Another way is to identify which types of insurance a company primarily deals with because the data helps determine which firms are competitors and which are not.
Finally, looking at sales figures, or premiums collected in a year, can help one to figure out the level of competition amid public companies and privately held or mutual companies.
Top Auto Insurance Companies
Now let’s draw your attention to the top auto insurance companies. These companies will cover up the losses in case of an accident. Research about such companies is not enough. You also need to focus on the type of policy and how much coverage is required. Additionally, consider how high your deductible should be.
Progressive Insurance is a company that is trusted by 18,000,000 drivers. It is a popular company among the clients because of the discounts, such as a safe driver discount (up to 31%), a pay-in-full discount, a multi-car discount, their multi-policy discount. This company provides insurance for motorcycles as well.
Just like Progressive Insurance, Allstate Insurance is prominent for earning fame in car insurance because of its policies. Many discount offers for bundling, anti-theft devices, and passive restraint are also available. All these offers and guidelines are given on their website.
Quote Wizard is a United States-based company. The number of local insurance agents is over 43,000. Comparatively, it offers services at a lower price. The greatest advantage of taking their service is the system of the Quote Wizard Comparison Platform. It provides several quotes all at once and you can save up to $65 on an average per month. Moreover, you don’t have to provide personal info for the quotes.
With Ensurance you can buy insurance policy directly without an agent. Still the process is really simple. The three-step procedure is to first customize your plan, get a quote and finally get approved. Customization of the policy according to your needs means you get a personalized insurance policy automatically.
GEICO auto insurance covers multiple benefits. The price may shoot up but the deal is fair. By using their quote tool you can decide how much you’ll pay for your plan. Furthermore, the Submission of a claim or make a payment through their website can also be done. There are a lot of benefits, like ride-sharing insurance, auto repair Xpress and Emergency roadside assistance. You will get full breakdown coverage too.
State Farm Insurance
State Farm Insurance is founded in 1922. A customer is bound to be happy with them because of their individual service, brick-and-mortar stores and agents. Moreover, strong mobile application and website are also worth mentioning. State Farm also makes it easy and painless to get quotes online, which means you don’t have to head into a local office all the time. Besides, plenty of discounts are made available by them.
Liberty Mutual Insurance
Founded in 1912, Liberty Mutual Insurance vows standard coverage as their package includes car replacement facilities. As a first time customer, your insurance rates will not go up. By adding the Deductible Fund feature you can reduce your deductible by $100. They have more than 1.5 million vehicles under their company. Like other companies, they have policy offerings, local agents and websites.
Auto-Owners Insurance is one of the oldest auto insurance companies. It has been operating since 1916. Auto-Owners Insurance has 6,300 independent agents, which means you can buy your policy directly on an individual basis. In addition, it achieved high ratings for customer service and claims experiences. You can avail discounts on different policies.
Using their website, you can shop around for and even apply for a new policy. Plus, you’ll have 24/7 access to agents either on the phone or online. They have multiple policy discounts. It has got top ratings for claims management. Their most exciting offer is the guarantee of renewals of your policy as long as you can drive.
To know which companies received the highest rank is important. It will give you an idea about the quality of each company’s service. It is more than selecting the best deal for auto insurance, it’s important to look at more than just premiums.