QBE Insurance Group SWOT Analysis, USP & Competitors

Posted in Banking & Financial Services, Total Reads: 1864
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SWOT Analysis of QBE Insurance Group with USP, Competition, STP (Segmentation, Targeting, Positioning) - Marketing Analysis

QBE Insurance Group

Parent Company

QBE Group

Category

Property and Casualty Insurance

Sector

Banking and Finance

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

STP

Segment

General insurance, Reinsurance services

Target Group

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

SWOT Analysis

Strengths

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

Weaknesses

1. High reliance on third party leading to higher costs of reinsurance

2. Declining underwriting profitability owing to drastic fall in the operating ratios

Opportunities

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

Threats

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

Competition

Competitors

1. Berkshire Hathaway, Inc.

2. Factory Mutual Insurance Company


The table above concludes the QBE Insurance Group SWOT analysis along with its marketing and brand parameters.

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