Allstate Corporation SWOT Analysis, Competitors & USP

Published by MBA Skool Team, Last Updated: April 26, 2020

SWOT analysis of Allstate Corporation analyses the brand by its strengths, weaknesses, opportunities & threats. In Allstate Corporation 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 Allstate Corporation to benchmark its business & performance as compared to the competitors. Allstate Corporation is one of the leading brands in the banking & financial services sector.

The article below lists the Allstate Corporation SWOT, competitors and includes its target market, segmentation, positioning & USP. Let us start the Allstate Corporation SWOT Analysis:

SWOT Analysis of Allstate Corporation

For Allstate Corporation, 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.

Allstate Corporation Strengths

The strengths of Allstate Corporation 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 Allstate Corporation :

1. Allstate has a strong market position reaching 16 million households in US through over 12000 exclusive Allstate agencies.

2. One of the largest property and casualty insurer in the US

3. The company has developed a proprietary database of underwriting and pricing which helps the company to price risks and cross sell products effectively

4. Diversified product portfolio and a multiple distribution channel

5. Experts in auto, home, business insurances alongwith investment and retirement services

6. More than 35000 people work for the organisation

Allstate Corporation 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 Allstate Corporation SWOT Analysis:

1. The company is subjected to changes in investment income due to exposure to residential mortgage backed securities.

2. The company is concentrated in the US, hence increasing the business risk due to lack of international presence

3. The company has been showing deteriorating operating expenses which is a concern


Allstate Corporation 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 Allstate Corporation SWOT Analysis:

1. There is an opportunity of increase in revenues owing to the growth in the global property and casualty insurance market.

2. There is an expected synergy in the acquisition made by Allstate of a direct channel auto insurer in terms of increase in market share.

3. The company has planned an organic growth initiative which is expected to increase its hold in the US market.

Allstate Corporation 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 Allstate Corporation are as mentioned:

1. US market is witnessing intense competition in this segment.

2. There has also been an increase in the fraudulent activities in the insurance industry.

3. Major climate changes are likely going to occur and such catastrophic events are going to affect the property and casualty insurers.


Allstate Corporation Competitors

There are several brands in the market which are competing for the same set of customers. Below are the top 4 competitors of Allstate Corporation:

1. Allianz AG

2. American Financial Group

3. American International Group, Inc.

4. Loews Corporation

Hence this concludes the Allstate Corporation SWOT analysis.

Continue reading more about the brand/company.

About Allstate Corporation

Allstate Corporation Overview
Parent Company

Allstate Group

Category

Diversified Insurance

Sector

Banking & Financial Services

Tagline/ Slogan

You are in good hands

USP

Large reach and extensive distribution network with accurately priced and cross sold products that enhance brand loyalty and customer retention

Allstate Corporation STP
Segmentation

Property and Casualty Insurance, Life & retirement insurance, investment products

Target Market

Individual & Institutional investors, Individuals

Positioning

An insurance company that has commitment to the community, with continuous learning and improvement


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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