Shriram Life Insurance SWOT Analysis, USP & Competitors

Posted in Banking & Financial Services, Total Reads: 1861
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SWOT Analysis of Shriram Life Insurance with USP, Competition, STP (Segmentation, Targeting, Positioning) - Marketing Analysis

Shriram  Life Insurance

Parent Company

Shriram group and Sanlam Life Insurance

Category

Insurance and finance

Sector

Banking and Financial Services

Tagline/ Slogan

Putting people first

USP

Venture by Strong financial conglomerate and an International expert

STP

Segment

Personal and Institutional Insurance

Target Group

Urban and Rural Investors

Positioning

Complete Insurance and financial solutions

SWOT Analysis

Strengths

1. Insurance policies for all strata’s of society
2.  Policies with consideration for social Impact
3.  International expertise of Sanlam group

4. Spread of 750 offices across India
5. More than 75,000 loyal and dedicated agents and has a customer base of 30 lacs chit subscribers and investors

Weaknesses

1.  Low key I.T infrastructure as compared to big brands

2.  Low Marketing and brand presence as compared to other competitors
3. Insurance companies have a poor image when it comes to payment of dues

Opportunities

1. Growing rural market
2.  Earning Urban Youth looking for investments

3. Cross selling through financial services such as banking

Threats

1.  Stringent Economic measures by Government and RBI
2.  Entry of new NBFCs in the sector

Competition

Competitors

1.  Bajaj Allianz

2.  Sahara Life Insurance

3.  Reliance  Life Insurance



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