1st Central SWOT Analysis, Competitors, Segmentation, Target Market, Positioning & USP

1^st Central Group

Insurance

Banking & Financial Services

Best Young Driver Insurance, Cheap New Driver Insurance

High standard of customer service, driving down the cost of car insurance

Car and Pet Insurance

Working and middle class, Young and new drivers and motorists

Low cost,  high standard insurance

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.

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

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

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

Below are the top 3 1st Central competitors:

1.Collingwood Insurance Company
2.Ibex Motor Insurance
3.Enterprise Insurance