HealthSpring SWOT Analysis, USP & Competitors

Posted in Pharmaceuticals and Healthcare, Total Reads: 357
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SWOT Analysis of HealthSpring with USP, Competition, STP (Segmentation, Targeting, Positioning) - Marketing Analysis

HealthSpring

Parent Company

Cigna

Category

Medicare and health insurance

Sector

Healthcare

Tagline/ Slogan

Family health experts

USP

Focus on senior and medicare eligible individuals

STP

Segment

Medicare and health insurance

Target Group

Senior citizens aged 65 and older, medicare qualifying disabled persons and persons suffering from end-stage renal disease

Positioning

Dependable for the patient in his/her hour of need and to deliver service with the highest ethics

SWOT Analysis

Strengths

1. One of largest and fastest growing health plans in US
2. Parent company Cigna which acquired it in 2011 is 33 year old brand name in US insurance market
3. Innovative approach to customer engagement, aligns incentive around performance and quality of outcome
4. Target group of senior and medicare qualified individuals differentiates it from consumers

Weaknesses

1. Cannibalization of Healthspring brand by Cigna brand
2. Low interest rate scenario in the US hurts the profitability of insurers in the US
3. Alliance with Humana group to offer streamlined medicare advantage offering through employer clients for retirees
4. Since 2013 dip in insurance penetration i.e. insurance premiums as a percentage of GDP

Opportunities

1. Trusted global brand name of CIGNA with 75million customers can be used as cash cow
2. Targeted customer base provides great potential of market leadership
3. More product offering and services and trying to attain first mover advantage in certain segments

Threats

1. Insurance sector in US highly competitive with many big names competing for limited customer base
2. Competitors may see potential in serving senior and medicare qualified individuals thus making substainablity difficult for HealthSpring

Competition

Competitors

1. Atena
2. Allied Insurance
3. Anthem Blue cross and Blue sheild



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