Allstate Corporation SWOT Analysis, USP & Competitors

Posted in Banking & Financial Services, Total Reads: 876
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SWOT Analysis of Allstate Corporation with USP, Competition, STP (Segmentation, Targeting, Positioning) - Marketing Analysis

Allstate Corporation

Parent Company

Allstate Group

Category

Diversified Insurance

Sector

Banking and Financial Services

Tagline/ Slogan

You are in good hands

USP

Large reach and extensive distribution network with accurately priced and cross sold products that enhance brand loyalty and customer retention

STP

Segment

Property and Casualty Insurance, Life & retirement insurance, investment products

Target Group

Individual & Institutional investors, Individuals

Positioning

An insurance company that has commitment to the community, with continuous learning and improvement

SWOT Analysis

Strengths

1. Allstate has a strong market position reaching 16 million households in US through over 12000 exclusive Allstate agencies.

2. One of the largest property and casualty insurer in the US

3. The company has developed a proprietary database of underwriting and pricing which helps the company to price risks and cross sell products effectively

4. Diversified product portfolio and a multiple distribution channel

5. Experts in auto, home, business insurances alongwith investment and retirement services

6. More than 35000 people work for the organisation

Weaknesses

1. The company is subjected to changes in investment income due to exposure to residential mortgage backed securities.

2. The company is concentrated in the US, hence increasing the business risk due to lack of international presence

3. The company has been showing deteriorating operating expenses which is a concern

Opportunities

1. There is an opportunity of increase in revenues owing to the growth in the global property and casualty insurance market.

2. There is an expected synergy in the acquisition made by Allstate of a direct channel auto insurer in terms of increase in market share.

3. The company has planned an organic growth initiative which is expected to increase its hold in the US market.

Threats

1. US market is witnessing intense competition in this segment.

2. There has also been an increase in the fraudulent activities in the insurance industry.

3. Major climate changes are likely going to occur and such catastrophic events are going to affect the property and casualty insurers.

Competition

Competitors

1. Allianz AG

2. American Financial Group

3. American International Group, Inc.

4. Loews Corporation



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