Company profile

Future of Hartford Financial Services Group

#
Rank
192
| Quantumrun Global 1000

The Hartford Financial Services Group, Inc., commonly known as The Hartford, is an American-based insurance and investment company. It is headquartered in Hartford, Connecticut. Its revenues in 2013 were $26.2 billion. The company’s earnings are divided between group benefits and mutual funds, and property-and-casualty operations,. It is the 12th-biggest casualty and property and company in America, sells its products mainly through a network of agents and brokers, and has been the direct auto and home insurance writer for members of AARP for over 25 years.

Home Country:
Sector:
Industry:
Insurance - Property and Casualty (Stock)
Founded:
1810
Global employee count:
17500
Domestic employee count:
Number of domestic locations:

Financial Health

Revenue:
$18300000000 USD
3y average revenue:
$18430333333 USD
Operating expenses:
$17496000000 USD
3y average expenses:
$16936666667 USD
Funds in reserve:
$882000000 USD
Market country
Revenue from country
1.00

Asset Performance

  1. Product/Service/Dept. name
    Commercial lines
    Product/Service revenue
    7667000000
  2. Product/Service/Dept. name
    Personal lines
    Product/Service revenue
    4035000000
  3. Product/Service/Dept. name
    Group benefits
    Product/Service revenue
    3634000000

Innovation assets and Pipeline

Total patents held:
266
Number of patents field last year:
2

All company data collected from its 2016 annual report and other public sources. The accuracy of this data and the conclusions derived from them depend on this publicly accessible data. If a data point listed above is discovered to be inaccurate, Quantumrun will make the necessary corrections to this live page. 

DISRUPTION VULNERABILITY

Belonging to the financial sector means this company will be affected directly and indirectly by a number of disruptive opportunities and challenges over the coming decades. While described in detail within Quantumrun’s special reports, these disruptive trends can be summarized along the following broad points:

*First off, the shrinking cost and increasing computational capacity of artificial intelligence systems will lead to its greater use across a number of applications within the financial world—from AI trading, wealth management, accounting, financial forensics, and more. All regimented or codified tasks and professions will see greater automation, leading to dramatically reduced operating costs and sizeable layoffs of white-collar employees.

*Blockchain technology will be co-opted and integrated into the established banking system, significantly reducing transaction costs and automating complex contract agreements.

*Financial technology (FinTech) companies that operate entirely online and offer specialized and cost-effective services to consumer and business clients will continue to erode the client base of larger institutional banks.

*Physical currency will disappear in much of Asia and Africa first due to each region’s limited exposure to credit card systems and early adoption of internet and mobile payment technologies. Western countries will gradually follow suit. Select financial institutions will act as intermediaries for mobile transactions, but will see increasing competition from tech companies who operate mobile platforms—they will see an opportunity to offer payment and banking services to their mobile users, thereby cutting out traditional banks.

*Growing income inequality throughout the 2020s will lead to an increase in fringe political parties winning elections and encouraging stricter financial regulations.

COMPANY’S FUTURE PROSPECTS

Company Headlines