Golden Rule Insurance SWOT Analysis, USP & Competitors

Posted in Banking & Financial Services, Total Reads: 534
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SWOT Analysis of Golden Rule Insurance with USP, Competition, STP (Segmentation, Targeting, Positioning) - Marketing Analysis

Golden Rule Insurance

Parent Company

United Healthcare

Category

Health Insurance

Sector

Banking and Financial Services

Tagline/ Slogan

Health Insurance made Simple

USP

High-quality products, timely claims handling, and outstanding customer service

STP

Segment

Personal health insurance

Target Group

Individuals and families

Positioning

Underwriter and administrator of the health insurance plans of United Healthcare

SWOT Analysis

Strengths

1. Leader of consumer-driven health insurance, such as Health Savings Accounts

2. Customized insurance services based on individual needs
3. Present in most US states with a wide range of products ranging from disability to critical insurance for individuals and families
4. International Operations and high quality business worldwide

5. Rated "A" (Excellent) by A.M. Best and "A+" (Strong) by Standard and Poor's

6. Quality care at reduced costs from well trained professionals

Weaknesses

1.Many challenges involved in operating in the health insurance landscape because of the increasing medical costs

2. Provides tax benefits to individuals by providing a Health Savings Account, which can be misused by some individuals

Opportunities

1. Can differentiate its products through similar features like savings account

2. Can build some loyalty programs for customers in order to avoid switching

Threats

1. Small players are tapping into health insurance market
2. Many young adults are questioning the need of a health coverage

3. Competition from Obama health care

4. Advances in medicine and inflation in medical costs

Competition

Competitors

1.American medical security
2.Group Health inc.
3.Medical Mutual

 


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