Aflac SWOT Analysis
Aflac is one of the leading brands in the banking & financial services sector. Aflac SWOT analysis evaluates the brand by its strengths & weaknesses which are the internal factors along with opportunities & threats which are the external factors. Let us start the SWOT Analysis of Aflac:
Quick Glance:
Aflac Strengths
- Focus on niche helping defend global market leadership in supplemental health insurance
- Long standing relationships with banks continue contributing to recurring sales
- Strong balance sheet providing financial strength
- Unique products with high customer loyalty
Above are the strengths in the SWOT Analysis of Aflac. The strengths of Aflac looks at the key internal factors of its business which gives it competitive advantage in the market and strengthens its position.
Aflac Weaknesses
- Increasing concentration in Japan increases business risk
- Losses on perpetual debentures likely to continue
- Brand equity not strong enough compared to competitors
These were the weaknesses in the Aflac SWOT Analysis. The weaknesses of a brand are certain aspects of its business which it can improve.
Aflac Opportunities
- Launch of new products likely to generate higher returns
- Launch of new initiatives to enhance sales
- Increasing natural calamities in Japan likely to enhance life insurance market growth potential
Above we covered the opportunities in Aflac SWOT Analysis. The opportunities for any brand can include prospects of future growth.
Aflac Threats
- Increasing competition in supplemental in health insurance sector
- Increasing incidence and severity of natural disasters in Japan could affect underwriting profits
- US insurance industry’s exposure to the ongoing Eurozone turmoil
The threats in the SWOT Analysis of Aflac are as mentioned above. The threats for any business can be external factors which can negatively impact its business.
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Hence this concludes the Aflac SWOT analysis.
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About Aflac
The table below gives the brand overview along with its target market, segmentation, positioning & USP
| Aflac Overview | |
|---|---|
| Parent Company |
Aflac |
| Category |
Health care |
| Sector | |
| Tagline/ Slogan |
We ve got you under our wing |
| USP |
The Aflac Duck is a unique marketing strategy for the firm |
| Aflac STP | |
| Segmentation |
Insurance plans |
| Target Market |
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 |
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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