ING Vysya Life Insurance SWOT Analysis, Competitors & USP

Published by MBA Skool Team, Last Updated: April 26, 2020

SWOT analysis of ING Vysya Life Insurance analyses the brand by its strengths, weaknesses, opportunities & threats. In ING Vysya Life Insurance SWOT Analysis, the strengths and weaknesses are the internal factors whereas opportunities and threats are the external factors.

SWOT Analysis is a proven management framework which enables a brand like ING Vysya Life Insurance to benchmark its business & performance as compared to the competitors. 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. Let us start the ING Vysya Life Insurance SWOT Analysis:

SWOT Analysis of ING Vysya Life Insurance

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.

ING Vysya Life Insurance Strengths

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. 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

ING Vysya Life Insurance Weaknesses

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


ING Vysya Life Insurance Opportunities

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

ING Vysya Life Insurance Threats

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


ING Vysya Life Insurance Competitors

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.

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About ING Vysya Life Insurance

ING Vysya Life Insurance Overview
Parent Company

ING Insurance International B.V and Exide Industries

Category

Insurance and finance

Sector

Banking & Financial Services

Tagline/ Slogan

Mera Farz; Enjoy the good life

USP

It’s a JV between an International  player and a strong local brand

ING Vysya Life Insurance STP
Segmentation

Personal and Institutional Insurance

Target Market

Urban and Rural Investors

Positioning

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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