Industrial Alliance Insurance SWOT Analysis, USP & Competitors

Posted in Banking & Financial Services, Total Reads: 1716
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SWOT Analysis of Industrial Alliance Insurance with USP, Competition, STP (Segmentation, Targeting, Positioning) - Marketing Analysis

Industrial Alliance Insurance

Parent Company

Industrial Alliance Insurance

Category

Health care

Sector

Life Insurance

Tagline/ Slogan

-

USP

The fourth largest life and health insurance company in Canada

STP

Segment

Individual life and health insurance, individual wealth

management, group life and health insurance, group savings and retirement and others

Target Group

Individuals and institutional

Positioning

Offers a wide range of life and health insurance products

SWOT Analysis

Strengths

1. Extremely solid company with good credit ratings
2. Good growth was generated not only in the Company’s core life insurance business but in all sectors, including new niche markets
3. excellent reputation Canada-wide for its corporate governance practices.
4. Industrial Alliance is one of the top-ranked companies in Canada

5. Good market reputation and wide variety of services offered

6. Strong customer centric approach

Weaknesses

1.Operations through subsidiaries results in lost opportunity for scale economies
2.Operations limited to Canada – Weak global reach

Opportunities

1.Opportunities for adding more subsidiaries to increase geographical reach
2.Wdier product portfolio designed to help become one stop financial service institution

Threats

1.Effects of macroeconomic turmoil that persisted throughout the year
2.Need to protect against insurance frauds and bad debts
3.Economic cycles and government intervention can create significant changes to industry

Competition

Competitors

1. Primerica Life Insurance Company
2. Royal Bank of Canada
3. Manulife Financial Corp


The table above concludes the Industrial Alliance Insurance SWOT analysis along with its marketing strategy and brand parameters.

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