Merchants Insurance Group SWOT Analysis, USP & Competitors

Posted in Banking & Financial Services, Total Reads: 370
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SWOT Analysis of Merchants Insurance Group with USP, Competition, STP (Segmentation, Targeting, Positioning) - Marketing Analysis

Merchants Insurance Group

Parent Company

Merchants Insurance Company

Category

Finance & Banking

Sector

Insurance

Tagline/ Slogan

Earning your business everyday

USP

variety of property and casualty insurance products for commercial and personal lines

STP

Segment

Life insurance, health insurance, investment, and annuity

Target Group

Young and middle age in the upper middle class or above income levels

Positioning

Outstanding service, competitive rates, personalized attention and a wide array of products

SWOT Analysis

Strengths

1.  Merchants also sponsors an employee-based committee known as Colleagues in Action (CIA)
2. Merchants employs 300+ expert insurance professionals throughout its operating territories

3. Each of the Merchants companies are rated “A-” (Excellent) by the A.M. Best Company
4. Merchants Insurance Group supports a variety of charitable causes for organizations in the communities in which it does business

5. Its offerings include Personal and Commercial Insurance

Weaknesses

1. Limited market share as compared to bigger players
2. Employee non-payment controversy in the past

Opportunities

1. Positive trends in the US healthcare sector would help Torchmark market its products effectively and fuel its revenue growth
2. Turnaround in US life insurance and pension market
3. Expanding healthcare business

Threats

1. Competitive pressures likely to intensify pressure on margins
2. Increased incidence of natural disasters testing claims paying ability
3.  Regulatory changes could affect financial strength and performance

Competition

Competitors

1. PMI Group, Inc
2. AMBAC Financial Group
3. Radian Group Inc.
4. CIMB


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