Aviva Life Insurance SWOT Analysis, USP & Competitors

Posted in Banking & Financial Services, Total Reads: 7234
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SWOT Analysis of Aviva Life Insurance with USP, Competition, STP (Segmentation, Targeting, Positioning) - Marketing Analysis

Aviva Life Insurance

Parent Company

Aviva plc and Dabur group

Category

NBFC

Sector

Insurance and finance

Tagline/ Slogan

Kal par control; Transform your life

USP

Aviva is UK’s  largest Insurance Firm

STP

Segment

Personal and Group Insurance

Target Group

Urban and Rural Investors

Positioning

Complete Insurance and financial solutions

SWOT Analysis

Strengths

1. Robust and Diverse Product portfolio
2. Has network across 3000 towns and 20,000 Financial Planning Advisors
3.  Focus on Schemes with social importance
4. Good brand visibility through advertisement campaigns
5. Globally, Aviva has over 46,000 employees
6. It is the sixth-largest insurance company in the world measured by net premium income and has 53 million customers in 28 countries

Weaknesses

1.  Controversial advertisement campaign caused a problem
2. Customer complaints for policy execution problems

Opportunities

1. Growing rural market
2. Earning Urban Youth
3. Increasing awareness amongst people about securing their future

Threats

1.  Economic crisis
2.  Entry of new NBFCs in the sector

Competition

Competitors

1.  Bajaj Allianz

2.  Sahara Life Insurance

3.  HDFC Standard Life


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