Amica Mutual Insurance SWOT Analysis, Competitors & USP

Posted in Banking & Financial Services, Total Reads: 2188
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SWOT Analysis of Amica Mutual Insurance with USP, Competition, STP (Segmentation, Targeting, Positioning) - Marketing Analysis

Amica Mutual Insurance

Parent Company

Amica Mutual Insurance

Category

Insurance

Sector

Banking & Financial Services

Tagline/ Slogan

Auto Home Life

USP

Financial Strength, Great Service and Customer Satisfaction, oldest mutual insurer of automobiles

Amica Mutual Insurance STP

Segment

Automobiles, Home and Life insurance

Target Group

Persons of age 20 or above and in the upper middle class or above income levels

Positioning

Direct writer of personal insurance with auto, homeowners, personal excess liability and marine coverages

Amica Mutual Insurance SWOT Analysis

Strengths

Below is the Strengths, Weaknesses, Opportunities & Threats (SWOT) Analysis of Amica Mutual Insurance :

1. Exceptional Quality Service and maintains a loyal customer base
2. Well reputed with more than a century of business know-how to its name, rated A++
3. Flexible online payments system
4. Highest in Customer Satisfaction among National Home owner insurers for many consecutive years.

Weaknesses

1. Premium charged for the service which might not be affordable by all income groups

2. Limited market share as compared to bigger players

Opportunities

1. Can leverage its credibility to include many new customers

2. More expansion through tie-ups

Threats

1. Increasingly aware and knowledgeable customer base, might be difficult to maintain loyalty as switching costs would be low
2. Many new small players in the industry

Amica Mutual Insurance Competition

Competitors

Below are the 3 main Amica Mutual Insurance competitors :

1.Liberty Mutual
2.Esurance
3.GEICO

 

The brandguide table above concludes the Amica Mutual Insurance SWOT analysis along with its marketing and brand parameters. Similar analysis has also been done for the competitors of the company belonging to the same category, sector or industry.

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