ING Vysya Life Insurance SWOT analysis evaluates the brand by its strengths, weaknesses, opportunities & threats. In SWOT Analysis of ING Vysya Life Insurance, the strengths and weaknesses are the internal factors whereas opportunities and threats are the external factors.
ING Vysya Life Insurance is one of the leading brands in the banking & financial services sector. The article below lists the ING Vysya Life Insurance SWOT, competitors and includes its target market, segmentation, positioning & USP.
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For ING Vysya Life Insurance, SWOT analysis can help the brand focus on building upon its strengths and opportunities while addressing its weaknesses as well as threats to improve its market position.
The strengths of ING Vysya Life Insurance looks at the key aspects of its business which gives it competitive advantage in the market. Some important factors in a brand's strengths include its financial position, experienced workforce, product uniqueness & intangible assets like brand value.
A list of strengths is mostly the starting point in starting SWOT analysis. Below are the Strengths in the SWOT Analysis of ING Vysya Life Insurance :
1. Integrated approach to banking. Asset management and insurance
2. State of Art ING Direct Facility
3. International expertise of ING group
4. Spread of 230 offices across India
5. ING Vysya Bank is a premier private sector bank with over 1.5 million customers
6. Serves over 1 million policy holders in India
The weaknesses of a brand are certain aspects of its business which are it can improve to increase its position further. Certain weaknesses can be defined as attributes which the company is lacking or in which the competitors are better. Here are the weaknesses in the ING Vysya Life Insurance SWOT Analysis:
1. Less penetration in rural areas
2. Mediocre publicity
3. Insurance companies have a poor image when it comes to payment of dues
The opportunities for any brand can include areas of improvement to increase its business. A brand's opportunities can lie in geographic expansion, product improvements, better communication etc. Following are the opportunities in ING Vysya Life Insurance SWOT Analysis:
1.Growing rural market
2. Earning Urban Youth
3. Cross selling through financial services such as banking
The threats for any business can be factors which can negatively impact its business. Some factors like increased competitor activity, changing government policies, alternate products or services etc. can be threats. The threats in the SWOT Analysis of ING Vysya Life Insurance are as mentioned:
1. Stringent Economic measures by Government and RBI
2. Entry of new NBFCs in the sector
There are several brands in the market which are competing for the same set of customers. Below are the top 3 competitors of ING Vysya Life Insurance:
1. Bajaj Allianz
2. Sahara Life Insurance
3. Reliance Life Insurance
Hence this concludes the ING Vysya Life Insurance SWOT analysis.
Continue reading more about the brand/company.
|ING Vysya Life Insurance Overview|
ING Insurance International B.V and Exide Industries
Insurance and finance
Mera Farz; Enjoy the good life
It’s a JV between an International player and a strong local brand
|ING Vysya Life Insurance STP|
Personal and Institutional Insurance
Urban and Rural Investors
Complete Insurance and financial solutions
This article has been researched & authored by the Content & Research Team. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.
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