Willis Group SWOT Analysis, USP & Competitors

Posted in Banking & Financial Services, Total Reads: 1352
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SWOT Analysis of Willis Group with USP, Competition, STP (Segmentation, Targeting, Positioning) - Marketing Analysis

Willis Group

Parent Company

Willis Group

Category

Insurance

Sector

Insurance broker

Tagline/ Slogan

-

USP

Leading global risk advisor, insurance and reinsurance broker, relentlessly delivers quality client service

STP

Segment

Risk advisory and brokerage services

Target Group

Insurance carriers

Positioning

Intermediary between its clients and insurance providers

SWOT Analysis

Strengths

1. World's third-largest insurance broker when measured by revenues

2. Offers its clients superior expertise, teamwork, innovation and market-leading products and professional services in risk management and transfer

3. Advises its clients on risk management requirements, helping them determine the best way to manage risk, and negotiating and placing insurance risk with insurance carriers
4. Willis experts rank among the world’s leading authorities on analytics, modelling and mitigation strategies

5. Website is easy to use and has clear and accurate policy documents

6. Operates in every continent, has around 400 offices in 120 countries and approximately 17,000 employees

7. I t has specialized experience handling diverse lines of coverage, including complex insurance programs

Weaknesses

1.A very volatile business and is dependent on the changing conditions of the market

2. Market share is low as compared to bigger players in the industry

Opportunities

1. Can invest in more relations and venture into more markets

2. Market pessimism leads to more risk averse people who can be the prospective customers

3. The Global placement network helps co-ordinate retail placement activity into local markets together with global placement activity into insurance centers around the world

Threats

1. Competition from existing players in the industry
2. Risks are very uncertain especially with the changing economic conditions

Competition

Competitors

1. Lockton Cos.
2. Marsh & McLennan Cos.
3.Aon Corp.

 


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