The Travelers Companies SWOT Analysis, USP & Competitors

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SWOT Analysis of The Travelers Companies with USP, Competition, STP (Segmentation, Targeting, Positioning) - Marketing Analysis

The Travelers Companies

Parent Company

The Travelers Group

Category

Insurance

Sector

Insurance

Tagline/ Slogan

Insurance for your auto, home and business

USP

Leading provider of property casualty insurance for auto, home and business with high financial stability

STP

Segment

Commercial and personal property and casualty insurance

Target Group

Businesses, government units, associations, and individuals

Positioning

Diverse business lines with global customers and a wide range of policies sold primarily through independent agents

SWOT Analysis

Strengths

1. It is the second largest writer of U.S. commercial property casualty insurance and the third largest writer of U.S. personal insurance through independent agent
2. Has offices in all the states of US and is well spread globally with services in UK, Ireland, Singapore, China, Canada and Brazil
3. Wide collection of insurance services under three broad segments: a) Personal, b) Business, c) Financial, Professional & International Insurance

4. Operates through 14000 independent agents who are well trained to understand customers’ needs

5. Focused insurance and retirement solutions tailored to the needs of the customers

6. It has been a component of the Dow Jones Industrial Average and Fortune 500 list

7. First to introduce automobile policy, commercial airline policy, and policy for space travel

Weaknesses

1. Low interest rates and capital market volatility continue to drive headlines for insurance industry

2. Allegations over anti-competitive practices

Opportunities

1. Needs to keep pace with the ever-changing needs of our customers, and anticipate their needs for the future

2. Acquisition of smaller players to boost its own image

3. More geographic reach would help the country increase its customer base

Threats

1. Competition from many new and existing players
2. Increasingly aware and knowledgeable customers

3. Increasing costs and need for insurance might hit a point where backlash might occur

Competition

Competitors

1.Transamerica Life

2. Liberty Mutual

3. Progressive Insurance

 

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