Symetra SWOT Analysis, Competitors & USP

Symetra

Parent Company

Symetra Financial Corporation

Category

Retirement plans, employee benefits, annuities, Life Insurance

Sector

Banking & Financial Services

Tagline/ Slogan

I just want to fly

USP

Commitment to helping people reach higher and fly farther

Symetra STP

Segment

Insurance

Target Group

Retired employees, Working employees

Positioning

Pioneer in medical stop loss insurance and a leader in fixed deferred annuity sales through banks

Symetra SWOT Analysis

Strengths

Below is the Strengths, Weaknesses, Opportunities & Threats (SWOT) Analysis of Symetra. Strengths are:

1. Skilled workforce with over 1200 employees

2. Domestic market

3. Existing distribution and sales network

4. Its services include Retirement plans, Employee benefits, Annuities and Life insurance

5. Service minded- Serves 1.7 million customers across US, through a network of independent advisors, brokers and agents.

6. Contributed to many charitable organizations

7. Financially strong and stable

Weaknesses

Here are the weaknesses of Symetra :

1. Declining margin is a concern.

2. This sector heavily depended on the economic growth and macroeconomic policies.

Opportunities

Following are the Opportunities of Symetra :

1.Growing industry – There is always a growth opportunity in this sector as most of the people except children either work or are retired.

2. Claim process can be improved by sensitizing employees to the needs of customers / employing educated customers

3. Venturing into new segments in the insurance field like auto insurance etc.

Threats

The threats of Symetra are as mentioned :

1.Competitive pressures might lead to decreasing margins

2. Tax changes might further increase the pressure

3. Macroeconomic policies might have a huge impact on this firm as the employment depends on those policies

Symetra Competition

Competitors

Below are the 3 main Symetra competitors :

1.Safg Retirement Services, Inc.

2. Metlife, Inc.

3. Aegon Usa, Inc.