Zurich Financial Services SWOT Analysis, USP & Competitors

Posted in Banking & Financial Services, Total Reads: 2931
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SWOT Analysis of Zurich Financial Services with USP, Competition, STP (Segmentation, Targeting, Positioning) - Marketing Analysis

Zurich Financial Services

Parent Company

Zurich Insurance Group Ltd

Category

Diversified Insurance

Sector

Banking and Financial Services

Tagline/ Slogan

Because Change Happenz

USP

Unique Culture Proposition-Strong CRM that delivers deep customer understanding along with strong and unique culture

STP

Segment

General Insurance, Global Life and Farmers Management services

Target Group

Individuals, Farmers, Small-mid businesses, Multinational Corporations

Positioning

A customer centric insurance provider that believes in giving back to the society

SWOT Analysis

Strengths

1.Zurich insurance is one of the largest insurance groups in the world with a presence in more than 170 countries

2.Though the management and administration of the company is mainly centralized, the company has showed local adaptation of products.

3.The IT infrastructure of the company is very strong with strong CRM systems in place focusing on customer centricity.

4. Over 60,000 people form a part of the employee workforce for the company

5. Life insurance, pensions and other financial services are its areas of expertise

Weaknesses

1. The company has significant exposure to Eurozone debt which was driven by tightening credit spreads.

2. The company has showed a high dependence on the general insurance segment of its business.

3. The risk management system of the general insurance segment of the company needs improvement.

Opportunities

1. The global property and casualty insurance market has a positive outlook which poses a great opportunity for the company.

2. Process of consolidation and expansions into other geographies which are emerging markets can pose as an opportunity for the company to strengthen its position.

3. Aging population in other developed nations is an opportunity for the insurance market.

Threats

1. The gaps in governance systems of the company pose a threat.

2. There is likely to be an increase in competition for capital due to the Solvency II adoption.

3. The increase in number of fraudulent practices and natural disasters can adversely affect the company’s profitability.

Competition

Competitors

1. MetLife

2. Aviva

3. AXA

4. Prudential Plc.



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