MEGA Life and Health Insurance SWOT Analysis, USP & Competitors

Posted in Banking & Financial Services, Total Reads: 199
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SWOT Analysis of MEGA Life and Health Insurance with USP, Competition, STP (Segmentation, Targeting, Positioning) - Marketing Analysis

MEGA Life and Health Insurance

Parent Company

HealthMarkets

Category

Life and Health Insurance

Sector

Insurance

Tagline/ Slogan

Health protection that fits your life

USP

Simplifying health and supplemental insurance purchasing experience

STP

Segment

Personal and Institutional Insurance

Target Group

Life and Health Insurance

Positioning

Emphasis on health protection(mainly self-insurers)

SWOT Analysis

Strengths

1. Known for its prudent investment management

2. Wide range of policies

3. International expertise and reputation of HealthMarkets

4. Serving its customers consistently since many years

5. Diverse portfolio suiting the requirements of its customers

Weaknesses

1. Small operations and limited marketing compared to big players

2. Intense competition means limited market share

Opportunities

1. Growing rural market

2.Earning Urban Youth

3. Cross selling through financial services such as banking

Threats

1.Continued erosion of market share.

2. Volatile financial markets and low interest rates.

3. Increased competition from banks (deposits and other products that they might distribute

Competition

Competitors

1. US Health and Life Insurance Company

2. American National Insurance Company

3. Assurant

4. Colonial Life and Accident Insurance Company



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