Allied Insurance SWOT Analysis, USP & Competitors

Posted in Banking & Financial Services, Total Reads: 278
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SWOT Analysis of Allied Insurance with USP, Competition, STP (Segmentation, Targeting, Positioning) - Marketing Analysis

Allied Insurance

Parent Company

Nationwide Mutual Insurance Company

Category

Diversified Insurance

Sector

Banking and Financial Services

Tagline/ Slogan

Allied on your side

USP

Customized offering on a diverse range of products: auto, home, powersports and personal umbrella

STP

Segment

All kinds of insurance, mainly focused on auto and home insurance

Target Group

Families, Businesses

Positioning

Customized offerings of insurance services coupled with quality customer service

SWOT Analysis

Strengths

1. Parent company nationwide is among country's largest diversified insurance and financial services organizations
2. Specialty coverage for boats, motorcycles and other recreational vehicles for outdoor lovers
3. Part of Fortune 100 company and partners with over 6,000 agencies in 33 states
4. Rated “A+” on financial stability by leading independent insurance-rating agencies
5. High quality customer service coupled with convenient billing options and ID theft protection

Weaknesses

1. Since 2013 dip in insurance penetration i.e. insurance premiums as a percentage of GDP
2. Low interest rate scenario in the US hurts the profitability of insurers in the US
3. Cannibalization of Allied brand by Nationwide brand 
4. Needs to stay on the technology forefront in order to serve customer base of ID theft protection

Opportunities

1. Trusted brand name of Nationwide agribusiness in farm and ranches segment can be used as cash cow
2. Powersports insurance can be used for gaining market share by effectively targeting it to youth and middle aged segment
3. More product offering and services and trying to attain first mover advantage in certain segments

Threats

1. Highly competitive market
2. Awareness among customers is increasing with more access to information
3. Sustainability is a major challenge

Competition

Competitors

1. American automobile association
2. Safe auto insurance company
3. Farmers insurance group



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