NJM New Jersey Manufacturers Insurance Company SWOT Analysis, USP & Competitors

Posted in Banking & Financial Services, Total Reads: 1170
Advertisements

SWOT Analysis of NJM New Jersey Manufacturers Insurance Company with USP, Competition, STP (Segmentation, Targeting, Positioning) - Marketing Analysis

NJM New Jersey Manufacturers Insurance Company

Parent Company

New Jersey Manufacturers Insurance Company

Category

Insurance

Sector

Auto Insurance

Tagline/ Slogan

-

USP

Provide outstanding service to its customers which is affirmed through many national customer satisfaction services

STP

Segment

Commercial and personal auto, workers' compensation, homeowner's, flood, and umbrella insurance

Target Group

Members/Employees of NJBIA and residents of New Jersey

Positioning

workers’ compensation insurance company

SWOT Analysis

Strengths

1. Customer centric and exceptional service that is nice, helpful and always present

2. Cost conscious and affordable car and property insurance
3. Top provider of personal auto insurance and workers' compensation insurance in the Garden State
4.  Named Customer Service Champion by J.D. Power and Associates, one of only 40 companies in major industries nationwide

5. Generated zero valid complaints, making it the second unblemished record in five years, according to the New Jersey Department of Banking and Insurance

6. Rated A++ on AM ratings which has been achieved

Weaknesses

1. Serves a very small set of customers, available only through a certain employment or marriage

2. Claims may take longer to settle

Opportunities

1. Identify new and uncontested market opportunities in order to expand its customer base
2.Introduce more products as per changing customer’s needs

Threats

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

Competition

Competitors

1.Selective Insurance Group

2.GEICO corporation

3.Palisades Safety and Insurance Management Corporation



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: