Amica Mutual Insurance SWOT Analysis, USP & Competitors

Posted in Banking & Financial Services, Total Reads: 1152
Advertisements

SWOT Analysis of Amica Mutual Insurance with USP, Competition, STP (Segmentation, Targeting, Positioning) - Marketing Analysis

Amica Mutual Insurance

Parent Company

Amica Mutual Insurance

Category

Insurance

Sector

Banking and Financial Services

Tagline/ Slogan

Auto Home Life

USP

Financial Strength, Great Service and Customer Satisfaction, oldest mutual insurer of automobiles

STP

Segment

Automobiles, Home and Life insurance

Target Group

Persons of age 20 or above and in the upper middle class or above income levels

Positioning

Direct writer of personal insurance with auto, homeowners, personal excess liability and marine coverages

SWOT Analysis

Strengths

1. Exceptional Quality Service and maintains a loyal customer base
2. Well reputed with more than a century of business know-how to its name, rated A++
3. Flexible online payments system
4. Highest in Customer Satisfaction among National Home owner insurers for many consecutive years.

Weaknesses

1. Premium charged for the service which might not be affordable by all income groups

2. Limited market share as compared to bigger players

Opportunities

1. Can leverage its credibility to include many new customers

2. More expansion through tie-ups

Threats

1. Increasingly aware and knowledgeable customer base, might be difficult to maintain loyalty as switching costs would be low
2. Many new small players in the industry

Competition

Competitors

1.Liberty Mutual
2.Esurance
3.GEICO

 


Advertisements



Looking for More Brands? Search BrandGuide

Edit the Brand or Add a New One : Contribute to BrandGuide

The brandnames and other brand information used in the brandguide section are properties of their respective companies. The companies are not associated with MBASkool in any way. The brand names are used purely for educational/academic purpose only.
Utmost Care has been taken in the analysis of the brands. However, if you find any ambiguity kindly help us improve.


Similar Brands in the same Sector: