QBE Insurance Group SWOT Analysis, Competitors & USP
Published by MBA Skool Team, Last Updated: April 26, 2020
SWOT analysis of QBE Insurance Group analyses the brand by its strengths, weaknesses, opportunities & threats. In QBE Insurance Group 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 QBE Insurance Group to benchmark its business & performance as compared to the competitors. QBE Insurance Group is one of the leading brands in the banking & financial services sector.
The table below lists the QBE Insurance Group SWOT (Strengths, Weaknesses, Opportunities, Threats), top QBE Insurance Group competitors and includes its target market, segmentation, positioning & Unique Selling Proposition (USP).
Effective merging of international presence, diversity of operations and local people expertise to provide quality services to customers
QBE Insurance Group STP
General insurance, Reinsurance services
Brokers and agents, small to large businesses and individuals
Understand your specific risks in this volatile world helping turn your ambitions and dreams to reality
SWOT Analysis of QBE Insurance Group
QBE Insurance Group Strengths
Below are the Strengths in the SWOT Analysis of QBE Insurance Group:
1. Strong player in the non-life insurance segment in Australia
2. Widespread geographical diversification with an extensive market reach
3. Strong resilience to adverse market situations with a robust capital adequacy
4. Globally present in over 45 countries
5. Number of employees is approx greater than 15,000 worldwide
6. Acquisition of prominent companies has strengthened its value and expertise
QBE Insurance Group Weaknesses
Here are the weaknesses in the QBE Insurance Group SWOT Analysis:
1. High reliance on third party leading to higher costs of reinsurance
2. Declining underwriting profitability owing to drastic fall in the operating ratios
QBE Insurance Group Opportunities
Following are the Opportunities in QBE Insurance Group SWOT Analysis:
1.Great opportunity for long term growth with scope to launch new service platforms in the growing Australian non-life insurance market
2. International exposure specially in emerging economies
3. Diversificiation of financial services and offering customised customer options
QBE Insurance Group Threats
The threats in the SWOT Analysis of QBE Insurance Group are as mentioned:
1. Increasing frauds in insurance may aggravate claim losses
2. Increased occurring of natural disasters testing claims paying capability
3. Adoption of solvency II likely to increase competition for capital
QBE Insurance Group Competition
QBE Insurance Group Competitors
Below are the top 2 competitors of QBE Insurance Group:
1. Berkshire Hathaway, Inc.
2. Factory Mutual Insurance Company
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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