ING Vysya Life Insurance SWOT Analysis, USP & Competitors

Posted in Banking & Financial Services, Total Reads: 3484
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SWOT Analysis of ING Vysya Life Insurance with USP, Competition, STP (Segmentation, Targeting, Positioning) - Marketing Analysis

ING Vysya Life Insurance

Parent Company

ING Insurance International B.V and Exide Industries

Category

Insurance and finance

Sector

Banking and Financial Services

Tagline/ Slogan

Mera Farz; Enjoy the good life

USP

It’s a JV between an International  player and a strong local brand

STP

Segment

Personal and Institutional Insurance

Target Group

Urban and Rural Investors

Positioning

Complete Insurance and financial solutions

SWOT Analysis

Strengths

1. Integrated approach to banking. Asset management and insurance
2.  State of Art ING Direct Facility
3.  International expertise of ING group

4. Spread of 230 offices across India
5. ING Vysya Bank is a premier private sector bank with over 1.5 million customers
6. Serves over 1 million policy holders in India

Weaknesses

1.  Less penetration in rural areas

2.  Mediocre publicity
3. Insurance companies have a poor image when it comes to payment of dues

Opportunities

1.Growing rural market
2.  Earning Urban Youth

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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