SWOT Analysis of New York Life Insurance Company with USP, Competition, STP (Segmentation, Targeting, Positioning) - Marketing Analysis
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New York Life Insurance Company |
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Parent Company |
New York Life Insurance Company (NYLIC) |
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Category |
Life and Health Insurance |
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Sector |
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Tagline/ Slogan |
The company you keep |
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USP |
Max New York life insurance provides life insurance solutions, children's plan and retirement solution |
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New York Life Insurance Company STP |
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Segment |
Enterprise and Individuals who are seeking financial help and advic |
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Target Group |
Large enterprises and rich individual investors |
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Positioning |
A company that believes in building relationships with customers |
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New York Life Insurance Company SWOT Analysis |
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Strengths |
1.The oldest and largest mutual life insurance company in the US 2.Diversification-well diversified business 3.Own research, long-term view 4.Ample liquidity-good financial rating 5.Superior service by over 12000+ employees 6.Best possible ratings by the four independent rating companies(Standard & Poor's, AM Best, Moody's and Fitch), Stable and growing revenue 7. The company has been recognized by several awards for its consistency and motivating place of work |
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Weaknesses |
1.Lacking extensive global services 2. Intense competition means slow market share growth |
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Opportunities |
1.Expansion in other countries 2.Diversifying portfolios for customers 3.Asset management sector 4.New emerging markets |
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Threats |
1. Changing govt regulations and financial crisis like recessions 2.Increase in insurance frauds 3.Stiff competition in the market |
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New York Life Insurance Company Competition |
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Competitors |
1.Metlife, Inc. 2.The Northwestern Mutual Life Insurance Company 3.Prudential Financial, Inc., 4.AON 5. Allianz 6.Allstate |
The brandguide table above concludes the New York Life Insurance Company SWOT analysis along with its marketing and brand parameters. Similar analysis has also been done for the competitors of the company belonging to the same category, sector or industry.
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