1st Central SWOT Analysis, USP & Competitors

Posted in Banking & Financial Services, Total Reads: 4183
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SWOT Analysis of 1st Central with USP, Competition, STP (Segmentation, Targeting, Positioning) - Marketing Analysis

1st Central

Parent Company

1st Central Group

Category

Insurance

Sector

Banking and Financial Services

Tagline/ Slogan

Best Young Driver Insurance, Cheap New Driver Insurance

USP

High standard of customer service, driving down the cost of car insurance

STP

Segment

Car and Pet Insurance

Target Group

Working and middle class, Young and new drivers and motorists

Positioning

Low cost,  high standard insurance

SWOT Analysis

Strengths

1. Customer centric and exceptional Customer service
2. Rapidly growing company with ambitious business goals.
3. Employs a robust and flexible rating software which has enabled rapid growth and profitability.
4. Sophisticated end to end claims management system in place.

Weaknesses

1. Only focused on UK customers means limited market share

2. Still in the process of making itself an established Insurance company

Opportunities

1. Geographical expansion through tie-ups
2.Introduce more products and services

3. Acquisitions would help the brand grow further

Threats

1. Entry barriers to the Insurance industry is low in Gibraltar because of less regulations, this poses of major threat from new entrants.
2. Increasing awareness among customers

Competition

Competitors

1.Collingwood Insurance Company
2.Ibex Motor Insurance
3.Enterprise Insurance

 

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