ChoiceQuote Insurance Services SWOT Analysis, USP & Competitors

Posted in Banking & Financial Services, Total Reads: 230
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SWOT Analysis of ChoiceQuote Insurance Services with USP, Competition, STP (Segmentation, Targeting, Positioning) - Marketing Analysis

ChoiceQuote Insurance Services

Parent Company

Groupama Insurances

Category

Diversified insurance- Motor Trade, Courier, Taxi, Commercial, Personal Insurarnce.

Sector

Insurance

Tagline/ Slogan

The Right Choice. No Compromise

USP

Specialist wheels-based insurance broker

STP

Segment

Motor Insurance(majorly)

Target Group

Mostly vehicles businesses – either two wheeler or four wheeler

Positioning

Specialist wheels-based insurance broker

SWOT Analysis

Strengths

1.ChoiceQuote Insurance has been a specialist wheels-based insurance broker since it was established in 1995.

2. Now one of the best known names in the motor trade, fleet and taxi insurance sectors

3. ChoiceQuote has developed a loyal customer base throughout the UK.

4. Expert broking teams are available over the phone to help with insurance requirements

5. ChoiceQuote can get a competitive deal on policies tailored to customer’s wheels-based business.

6. Strong presence in UK

Weaknesses

1. Limited market share as compared to the global leaders in the industry

2. Marketing effort very less and has a great potential to reach to more people/businesses.

Opportunities

1. Expansion through tie-ups and collaborations can enhance services

2. Can leverage its credibility to include many new customers

3. Marketing effort very less and has a great potential to reach to more people/businesses

Threats

1. Sustainability is a major challenge in the industry

2. Economic fluctuations can affect industry operations

3. Increasingly aware and knowledgeable customer base, might be difficult to maintain loyalty as switching costs would be low

4. Many new small players in the industry

Competition

Competitors

1. Aviva Car Insurance

2. Direct Line Car Insurance

3. Saga car Insurance

4. Allianz Insurance



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