Samsung Life Insurance SWOT Analysis, USP & Competitors

Posted in Banking & Financial Services, Total Reads: 1114
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SWOT Analysis of Samsung Life Insurance with USP, Competition, STP (Segmentation, Targeting, Positioning) - Marketing Analysis

Samsung Life Insurance

Parent Company

Samsung Group

Category

Health care

Sector

Health and life insurance

Tagline/ Slogan

A partner for life

USP

Most valuable financial brand in South Korea supporting a number of social contributions over the years

STP

Segment

Health care policies

Target Group

Life and health insurance, Annuity products to individual customers and corporate clients

Positioning

largest insurer in Korea with widest product portfolio

SWOT Analysis

Strengths

1. Market leader in Korean life insurance market
2. Robust capital position provides strength for future expansion
3. Strong IPO resulting in a valuable company by market capitalization
4. Company operates 900+ branch offices and 90 regional centers, and 2,400+ agencies across Korea

5. Strong backing of powerful parent brand

Weaknesses

1. Inability to sustain new policy growth
2. Higher exposure to interest bearing assets affecting investment returns
3.Difficult for geographical expansion outside Korea due to synergy issues

Opportunities

1. Korean life insurance market expansion
2. New product launches and ventures could accelerate growth
3. Strong economic growth in Korea

Threats

1. Likely increase in competition
2. One of benefits from IFRS 4 (Phase I) adoption could be unavailable henceforth
3. Troubled relationship with North Korea

Competition

Competitors

1. ING Life Insurance Korea
2.Korea Life Insurance
3. Kyobo Life Insurance



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