Aflac SWOT Analysis, USP & Competitors

Aflac

Parent Company

Aflac

Category

Health care

Sector

Banking & Financial Services

Tagline/ Slogan

We ve got you under our wing

USP

The Aflac Duck is a unique marketing strategy for the firm

Aflac STP

Segment

Insurance plans

Target Group

Accident, cancer /specified diseases, dental, hospital intensive care, life, lump sum cancer, lump sum cancer critical illness , short term disability

Positioning

design insurance policies that can be used to help with those out-of-pocket expenses not covered by existing major medical coverage of U.S. consumers

Aflac SWOT Analysis

Strengths

1. Focus on niche helping defend global market leadership in supplemental health insurance
2. Long standing relationships with banks continue contributing to recurring sales
3. Strong balance sheet providing financial strength
4. Unique products with high customer loyalty

Weaknesses

1. Increasing concentration in Japan increases business risk
2. Losses on perpetual debentures likely to continue
3.Brand equity not strong enough compared to competitors

Opportunities

1. Launch of new products likely to generate higher returns
2. Launch of new initiatives to enhance sales
3. Increasing natural calamities in Japan likely to enhance life insurance market growth potential

Threats

1. Increasing competition in supplemental in health insurance sector
2. Increasing incidence and severity of natural disasters in Japan could affect underwriting profits
3. US insurance industry’s exposure to the ongoing Eurozone turmoil

Aflac Competition

Competitors

1. Focal Point Systems
2. MetLife, Inc
3. Allstate Corporation