Zurich Financial Services SWOT Analysis, Competitors & USP

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

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

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

SWOT Analysis of Zurich Financial Services

For Zurich Financial Services, 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.

Zurich Financial Services Strengths

The strengths of Zurich Financial Services 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 Zurich Financial Services :

1.Zurich insurance is one of the largest insurance groups in the world with a presence in more than 170 countries

2.Though the management and administration of the company is mainly centralized, the company has showed local adaptation of products.

3.The IT infrastructure of the company is very strong with strong CRM systems in place focusing on customer centricity.

4. Over 60,000 people form a part of the employee workforce for the company

5. Life insurance, pensions and other financial services are its areas of expertise

Zurich Financial Services 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 Zurich Financial Services SWOT Analysis:

1. The company has significant exposure to Eurozone debt which was driven by tightening credit spreads.

2. The company has showed a high dependence on the general insurance segment of its business.

3. The risk management system of the general insurance segment of the company needs improvement.


Zurich Financial Services 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 Zurich Financial Services SWOT Analysis:

1. The global property and casualty insurance market has a positive outlook which poses a great opportunity for the company.

2. Process of consolidation and expansions into other geographies which are emerging markets can pose as an opportunity for the company to strengthen its position.

3. Aging population in other developed nations is an opportunity for the insurance market.

Zurich Financial Services 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 Zurich Financial Services are as mentioned:

1. The gaps in governance systems of the company pose a threat.

2. There is likely to be an increase in competition for capital due to the Solvency II adoption.

3. The increase in number of fraudulent practices and natural disasters can adversely affect the company’s profitability.


Zurich Financial Services Competitors

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

1. MetLife

2. Aviva

3. AXA

4. Prudential Plc.

Hence this concludes the Zurich Financial Services SWOT analysis.

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About Zurich Financial Services

Zurich Financial Services Overview
Parent Company

Zurich Insurance Group Ltd

Category

Diversified Insurance

Sector

Banking & Financial Services

Tagline/ Slogan

Because Change Happenz

USP

Unique Culture Proposition-Strong CRM that delivers deep customer understanding along with strong and unique culture

Zurich Financial Services STP
Segmentation

General Insurance, Global Life and Farmers Management services

Target Market

Individuals, Farmers, Small-mid businesses, Multinational Corporations

Positioning

A customer centric insurance provider that believes in giving back to the society


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.

Browse marketing analysis of more brands and companies similar to Zurich Financial Services. This section covers SWOT Analysis, Competitors, Segmentation, Target Market, Positioning & USP of more than 2500 brands from over 20 industry sectors.

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