1st Central SWOT Analysis, Competitors & USP

1^st Central

Parent Company

1^st Central Group

Category

Insurance

Sector

Banking & Financial Services

Tagline/ Slogan

Best Young Driver Insurance, Cheap New Driver Insurance

USP

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

1st Central STP

Segment

Car and Pet Insurance

Target Group

Working and middle class, Young and new drivers and motorists

Positioning

Low cost,  high standard insurance

1st Central SWOT Analysis

Strengths

Below is the Strengths, Weaknesses, Opportunities & Threats (SWOT) Analysis of 1st Central. Strengths are:

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.

Weaknesses

Here are the weaknesses of 1st Central :

1. Only focused on UK customers means limited market share

2. Still in the process of making itself an established Insurance company

Opportunities

Following are the Opportunities of 1st Central :

1. Geographical expansion through tie-ups
2.Introduce more products and services

3. Acquisitions would help the brand grow further

Threats

The threats 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

Competitors

Below are the 3 main 1st Central competitors :

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