PEMCO SWOT Analysis, USP & Competitors

Posted in Banking & Financial Services, Total Reads: 282
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SWOT Analysis of PEMCO with USP, Competition, STP (Segmentation, Targeting, Positioning) - Marketing Analysis

PEMCO

Parent Company

PEMCO Insurance Company

Category

Finance

Sector

Insurance

Tagline/ Slogan

We're A Lot Like You. A Little Different

USP

owned by our customers – not stockholders – so we serve you

STP

Segment

Auto, Home and Boat Insurance

Target Group

Middle and High income groups

Positioning

local company dedicated to Northwest residents

SWOT Analysis

Strengths

1.  PEMCO is the Northwest’s largest local personal-lines insurer, providing auto, home, boat, life insurance to general public.
2. PEMCO has earned several awards for its marketing campaigns
3. PEMCO has grown from premiums significantly
4. Diverse portfolio suiting the requirements of its customers

Weaknesses

1.  Intense competition means limited market share
2.  The company is not well diverse in terms of geographic locations and hence exposed to geographic risks

Opportunities

1. .Geographical expansion – Europe market can be penetrated
2. Market penetration in Asian growth markets
3. The growing insurance market poses a great opportunity for the company to grow.

Threats

1. Financial services industry are hugely dependent on economic cycles and government regulations
2. Financial services industry are plagued by cases of fraud
3. Competition in the mortgage insurance industry may affect the earnings of the company.

Competition

Competitors

1. Newyork Life Insurance
2. Globe Life Insurance
3. Prudential Life Insurance



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