Royal Liver Assurance SWOT Analysis, USP & Competitors

Posted in Banking & Financial Services, Total Reads: 336
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SWOT Analysis of Royal Liver Assurance with USP, Competition, STP (Segmentation, Targeting, Positioning) - Marketing Analysis

Royal Liver Assurance

Parent Company

Royal London Group

Category

Financial services

Sector

Insurance and Pension Products

USP

Wide range of products and services offered that suit the unique needs of a customer

STP

Segment

Life, motor and General Insurance

Target Group

Individuals and Businesses

Positioning

Royal London it simply means doing business the right way

SWOT Analysis

Strengths

1. Royal Liver Assurance employs around 900 people, has approximately 3.5 million policies
2. Royal Liver Assurance expanded to cover the whole of Ireland and the UK.
3. Achieved 5 stars for Excellent Service for six years running Best for Service
4. 5 star award for online service in Life & Pensions category for eight years running

5. The group has solid capitalization, disciplined underwriting focus and leverages on sophisticated predictive analytic modeling tools for providing best service possible

Weaknesses

1. Operations are very less as compared to bigger insurance global brands
2. Marketing and brand awareness is limited

Opportunities

1.  Improve transparency by including more information on the website
2. Introduce more products as per changing customer’s needs
3. Cross selling through financial services such as banking

Threats

1. Rapidly evolving markets, changing customer needs and challenging economic times
2. Competition from existing and many new small players.

Competition

Competitors

1. AON Plc
2. Aflac Incorporated
3. .UnitedHealth Group Incorporated



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