Premera Blue Cross SWOT Analysis, USP & Competitors

Posted in Banking & Financial Services, Total Reads: 427
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SWOT Analysis of Premera Blue Cross with USP, Competition, STP (Segmentation, Targeting, Positioning) - Marketing Analysis

Premera Blue Cross

Parent Company

Premera Blue Cross Oraganization

Category

Finance

Sector

Insurance

USP

Premera Blue Cross is a nonprofit Blue Cross Blue Shield licensed health insurance company

STP

Segment

Health and Life Insurance

Target Group

Individuals, employees and Medicare beneficiaries

Positioning

Consumer driven health care and life Insurance products

SWOT Analysis

Strengths

1. Employs 3000+ people in various geographic locations
2. Leading consumer health organization committed to making people's lives healthier and more secure
3. Awarded three year full accreditation from NCQA, which is the highest level for managed behavioral health care organizations
4. Consumers able to derive benefits like low cost doctor’s office visit charge, low payment for prescription medicine

5. It has subsidiaries like LifeWise of Oregon, LifeWise of Washington

LifeWise Assurance Company, Calypso Healthcare Solutions, Vivacity, Connexion Insurance

Weaknesses

1. Health insurance is open to public abuse
2. Limited market share as compared to global leaders
3. Premera experienced an alleged security breach, possibly leaking the private information

Opportunities

1. Can promote a single payer health care system
2. Can leverage on technology to improve the efficiency of its health care
3. Global expansion into other countries can boost revenues

Threats

1. Raising costs of health insurance and the introduction of Obama care
2. Competition from small and new players 
3. Security threats

Competition

Competitors

1. AXA
2. Prudential Plc
3. MetLife


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