Equity Insurance Group SWOT Analysis, USP & Competitors

Posted in Banking & Financial Services, Total Reads: 674
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SWOT Analysis of Equity Insurance Group with USP, Competition, STP (Segmentation, Targeting, Positioning) - Marketing Analysis

Equity Insurance Group

Parent Company

Insurance Australia Group

Category

Insurance and Financial Services

Sector

Insurance

Tagline/ Slogan

Working Together, Delivering Solutions, Creating Value

USP

A leading UK affinity provider, works with a host of leading brands such as Santander UK PLC, first direct, Renault and Honda

STP

Segment

Personal and commercial insurance

Target Group

Working and middle class, Young and new drivers and motorists

Positioning

Innovative affinity solutions, broker transfers and outsourcing arrangements to a broad range of clients

SWOT Analysis

Strengths

1. Delivers quality products and valuable income streams for our business partners through sustainable and attractive insurance propositions

2. With UK based call centres and innovative web based services, they are an ideal business partner capable of delivering exceptional products and services
3. Have a strong track record built over years of providing private motor management to brokers
4. Official providers of BIBA's Private Motor Management facility

5. Leverages technology to create innovative systems that work quickly and effectively

6. Adaptable, customer focused and have creative marketing support in order to drive growth of sales

7. The largest motor insurance syndicate at Lloyd’s, the Company is one of the ten largest motor insurers in the U.K.

Weaknesses

1. Acquired recently by Aquiline Capital Partners, need to go through a change of leadership and management and align its goals accordingly

2. Still in the process of making itself an established Insurance company in other segments (except motor space)

Opportunities

1.Can redirect emphasis on its core business – motor insurance

2. Work with the customer to understand their needs and through product innovation and marketing expertise, can tailor products and services accordingly

Threats

1. The company has been acquired twice by 2 different groups in the last few years
2. Competition from existing and new insurance players

Competition

Competitors

1. Bentley Insurance Services Ltd
2. International Transport Intermediaries Club Ltd
3. Reliance National Insurance Company (Europe) Limited

 


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