Bankers Life and Casualty Insurance SWOT Analysis, USP & Competitors

Posted in Banking & Financial Services, Total Reads: 1576
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SWOT Analysis of Bankers Life and Casualty Insurance with USP, Competition, STP (Segmentation, Targeting, Positioning) - Marketing Analysis

Bankers Life and Casualty Insurance

Parent Company

CNO Financial Group

Category

Health Insurance

Sector

Banking and Financial Services

Tagline/ Slogan

For the Life of your Retirement

USP

Integrity, Customer-Focus, Excellence and Teamwork

STP

Segment

Insurance needs of the retirement market

Target Group

Middle Income group Americans(mostly focused on retirees)

Positioning

Broad portfolio of life and health insurance retirement products

SWOT Analysis

Strengths

1. Customer centric approaches and actions
2. Affordable insurance for middle income Americans
3. One of the largest individual insurers in the health and accident field
4. Offers a comprehensive portfolio of insurance products and has the first mover advantage in Medicare Supplement plans

Weaknesses

1. High amount of alleged complaints among long-term care clients, might question the credibility of the company
2.Competition from bigger players means limited market share

Opportunities

1. Improve awareness about achieving financial security during retirement
2. Product and Geographical Expansion

Threats

1. Regulatory requirements, might require updates to claim practices
2.Many existing and new players in the industry

3. Unfavorable economic conditions and changing govt policies can change

Competition

Competitors

1.American Income Life
2.Chicago Title Insurance Company
3.AAA Chicago

 


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