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 article below lists the QBE Insurance Group SWOT, competitors and includes its target market, segmentation, positioning & USP. Let us start the QBE Insurance Group SWOT Analysis:

SWOT Analysis of QBE Insurance Group

For QBE Insurance Group, SWOT analysis can help the brand focus on building upon its strengths and opportunities while addressing its weaknesses as well as threats to improve its market position.

QBE Insurance Group Strengths

The strengths of QBE Insurance Group looks at the key aspects of its business which gives it competitive advantage in the market. Some important factors in a brand's strengths include its financial position, experienced workforce, product uniqueness & intangible assets like brand value. 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

The weaknesses of a brand are certain aspects of its business which are it can improve to increase its position further. Certain weaknesses can be defined as attributes which the company is lacking or in which the competitors are better. 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

The opportunities for any brand can include areas of improvement to increase its business. A brand's opportunities can lie in geographic expansion, product improvements, better communication etc. 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 for any business can be factors which can negatively impact its business. Some factors like increased competitor activity, changing government policies, alternate products or services etc. can be 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 Competitors

There are several brands in the market which are competing for the same set of customers. Below are the top 2 competitors of QBE Insurance Group:

1. Berkshire Hathaway, Inc.

2. Factory Mutual Insurance Company

Hence this concludes the QBE Insurance Group SWOT analysis.

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About QBE Insurance Group

QBE Insurance Group Overview
Parent Company

QBE Group

Category

Property and Casualty Insurance

Sector

Banking & Financial Services

Tagline/ Slogan

Made possible by QBE

USP

Effective merging of international presence, diversity of operations and local people expertise to provide quality services to customers

QBE Insurance Group STP
Segmentation

General insurance, Reinsurance services

Target Market

Brokers and agents, small to large businesses and individuals

Positioning

Understand your specific risks in this volatile world helping turn your ambitions and dreams to reality


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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