How do you feel globalization has affected the Insurance industry?
Globalization is a business concept that encourages international trade in order to strengthen the economic situation between countries. Perform research on this, and any other relevant topics before your interview. There may be articles or bits of media where State Farm's executives discuss this issue. Think of it as scoring extra credit points on a very important test. Taking an informed approach, discuss with the interviewer your thoughts on how this practice may be affecting the Insurance industry, slipping in any other tidbits that showcase your in-depth knowledge on this subject.
"I feel that globalization has forced many companies to be creative and flexible when it comes to their business insurance needs. Namely, companies who now have international offices, hire offshore employees, and who participate in global trade. It has caused the Insurance industry to think outside of the box and has, in my opinion, created some very thought provoking challenges."
"I think that globalization has made the insurance industry more competitive; thus, creating a greater need for good reviews and customer satisfaction. Customers are better educated and that holds the entire industry more accountable."
