To provide an overview/SWOT analysis and competitive edges of Thrivent's Financial, and the implications of COVID-19 for their specific business caegory, as well as the implications that could be helpful in dealing with its five biggest priorities. These will be used internally to respond to Thrivent RFS and prepare for a meeting.
Overview & Competitive Advantage
- Founded in 1902, Thrivent Financials is a not-for-profit membership organization of Christians that provides insurance and financial services to help Christians be wise with money and live generously.
- "It is a fraternal benefit society is a not-for-profit organization that provides insurance to its members and – this is key – has to carry out social, intellectual, educational, charitable, benevolent, moral, fraternal, patriotic or religious purposes for the benefit of its members and the public."
- The company's competitive edge lies in offering a variety of financial services and options, while helping its customers by using money as a tool to serve God, the family and the community.
- These services include financial advice, mutual funds, over-the-phone expertise, credit union services, generosity services, and others for individuals and families, businesses, members, churches and non-profits, advisors, and independent producers.
Response to COVID-19 and Crises
- In response to the current COVID-19 pandemic, Thrivent is implementing various measures for its members, workforce, and customers to thrive and to deliver on its past and future commitments to its customers.
These include the provision of contact details for customers to speak to its Financial Guidance Team members, implementing a work-from-home policy for its core staff and workforce, holding Thrivent Member Network (TMN) Events virtually for its members whenever possible, among others.
- Following the huge impacts of Hurrican Katrina, the Federal Financial Institutions Examination Council (FFIEC) shares in-depth insights into how financial organizations can prepare and recover from emergencies. These were partly informed by financial organizations, that were affected by Hurricane Katrina and its aftermath, who shared their experiences of the crises and/or lessons learned.
- The FFIEC suggests that these resources are helpful in review an organization's disaster recovery and business continuity plans.
- The Cambridge Judge Business School published a disaster recovery case studies following the US 2005 storms: Katrina, Rita, and Rita. "The case studies sought to understand and quantify the key controls on the speed and quality of disaster recovery, including the role of insurance."
- In addition to this public search, we scanned our proprietary research database of over 1 million sources and were unable to find any specific research reports that address your goals.
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