Published by MBA Skool Team, Last Updated: April 26, 2020
SWOT analysis of 1st Central analyses the brand by its strengths, weaknesses, opportunities & threats. In 1st Central 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 1st Central to benchmark its business & performance as compared to the competitors. 1st Central is one of the leading brands in the banking & financial services sector.
The table below lists the 1st Central SWOT (Strengths, Weaknesses, Opportunities, Threats), top 1st Central competitors and includes its target market, segmentation, positioning & Unique Selling Proposition (USP).
Best Young Driver Insurance, Cheap New Driver Insurance
High standard of customer service, driving down the cost of car insurance
1st Central STP
Car and Pet Insurance
Working and middle class, Young and new drivers and motorists
Low cost, high standard insurance
SWOT Analysis of 1st Central
1st Central Strengths
Below are the Strengths in the SWOT Analysis of 1st Central:
1. Customer centric and exceptional Customer service 2. Rapidly growing company with ambitious business goals. 3. Employs a robust and flexible rating software which has enabled rapid growth and profitability. 4. Sophisticated end to end claims management system in place.
1st Central Weaknesses
Here are the weaknesses in the 1st Central SWOT Analysis:
1. Only focused on UK customers means limited market share
2. Still in the process of making itself an established Insurance company
1st Central Opportunities
Following are the Opportunities in 1st Central SWOT Analysis:
1. Geographical expansion through tie-ups 2.Introduce more products and services
3. Acquisitions would help the brand grow further
1st Central Threats
The threats in the SWOT Analysis of 1st Central are as mentioned:
1. Entry barriers to the Insurance industry is low in Gibraltar because of less regulations, this poses of major threat from new entrants. 2. Increasing awareness among customers
1st Central Competition
1st Central Competitors
Below are the top 3 competitors of 1st Central:
1.Collingwood Insurance Company 2.Ibex Motor Insurance 3.Enterprise Insurance
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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