Promina Group SWOT Analysis, USP & Competitors

Posted in Banking & Financial Services, Total Reads: 418
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SWOT Analysis of Promina Group with USP, Competition, STP (Segmentation, Targeting, Positioning) - Marketing Analysis

Promina Group

Parent Company

Suncorp-Metway Limited

Category

General Insurance and Wealth Management

Sector

Insurance and Finance

USP

One of the most prominent insurance companies in Australia and New Zealand

STP

Segment

Insurance and Finance

Target Group

High wealth individuals and businesses

Positioning

Emphasis on maximizing of the profits of its customers

SWOT Analysis

Strengths

1. Has 200+ offices across Australia and New Zealand

2. The group traces its operations back to 1833 in Australia and back to 1878 in New Zealand

3. Various brands under this group – AAMI, APIA, Just Car Insurance, Vero Insurance, Asteron, Tyndall, Autosure, AXIOM, Mariner, SIS, Guardian Trust

4. Over 7000 employees in the organization

Weaknesses

1. Limited geographic presence compared to global insurance companies

2. Highly competitive market means limited business share

Opportunities

1. Diversifying into other fields of insurance

2. Entering new markets- either new states or new countries

3. Acquisitions to expand business.

Threats

1. Slow economic growth rate might lead to declining business

2. Government regulations might affect adversely

3. Macroeconomic policies affect a lot.

Competition

Competitors

1.Insurance Australia Group

2. QBE Insurance

3. Auto and General

4. Allianz Australia

5. Hollard Insurance



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