Kansas City Life Insurance SWOT Analysis, USP & Competitors

Posted in Banking & Financial Services, Total Reads: 686
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SWOT Analysis of Kansas City Life Insurance with USP, Competition, STP (Segmentation, Targeting, Positioning) - Marketing Analysis

Kansas City Life Insurance

Parent Company

Kansas City Life Group

Category

Insurance

Sector

Banking and Financial Services

Tagline/ Slogan

Welcome to the good life

USP

Security Assured, a promise made by KCL that is kept for more than 115 years

STP

Segment

Life, annuity and group products

Target Group

Working professionals and Families

Positioning

Present and future financial security to its policyholders and their families

SWOT Analysis

Strengths

1. Customer centric and exceptional Customer service
2. Longstanding record of financial strength and assured security and offers a full range of solutions to meet all of life’s changing moments

3. Offers clients and producers superior service and quality products
4. Wide collection of financial services products ranging from Life insurance to equity-based investment products

5. National network of sales representatives(agents) who are well trained and professional

6. Ensures Security and Protection of its customers through its wide range of services and products

7. Has top ratings from A.M Best, Moody’s, Fitch and Standard and Poor’s

Weaknesses

1. Changing trends and economic regulations put a constant pressure on the business to change

2. There are more competitors for agencies to compete with banks and Internet players

Opportunities

1. Can introduce cross selling of financial services
2. Customer’s increasing need for an “insurance consultant” can open new ways to service and generate income

Threats

1. Competition from many new and existing players
2. Increasingly aware and knowledgeable customers

3. Increasing costs and need for insurance might hit a point where backlash might occur

Competition

Competitors

1.Newyork Life Insurance
2.Globe Life Insurance

3.Prudential Life Insurance

 


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