Selective Insurance SWOT Analysis, USP & Competitors

Posted in Banking & Financial Services, Total Reads: 1135
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SWOT Analysis of Selective Insurance with USP, Competition, STP (Segmentation, Targeting, Positioning) - Marketing Analysis

Selective Insurance

Parent Company

Selective Insurance

Category

Insurance

Sector

Auto Insurance

Tagline/ Slogan

Response is everything

USP

Strengths, Endurance and Brilliance in the services offered

STP

Segment

Property and Casualty Insurance

Target Group

Individuals and Businesses

Positioning

Customized Insurance to suit the needs of every customer

SWOT Analysis

Strengths

1. It is a holding company for ten customer-focused property and casualty (P&C) insurance companies which offer a broad range of insurance and alternative risk management services

2. Insurance experts who are well aware of how to protect the business and property from any kind of risk

3. The group has solid capitalization, disciplined underwriting focus and leverages on sophisticated predictive analytic modeling tools for providing best service possible

4. One of the best regional insurance organizations in the marketplace

5. Operates through local agents who are knowledgeable and offer services as per the customers’ need

6. Rated A on AM ratings and ranked as one of P&C insurance group in the United States by A.M. Best Co

Weaknesses

1. Selective does not enable quote estimates on their website. To get a quote, consumers will have to go through their local agents

2. Very little information available on the website, less transparent

Opportunities

1. Improve transparency by including more information on the website
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.Country Financial Insurance

2.Direct General Insurance

3.Geico Insurance

 


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