Safeway Insurance Group SWOT Analysis, Competitors & USP

Posted in Banking & Financial Services, Total Reads: 1256

SWOT analysis of Safeway Insurance Group analyses the brand/company with its strengths, weaknesses, opportunities & threats. In Safeway Insurance Group 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 Safeway Insurance Group to benchmark its business & performance as compared to the competitors and industry. Safeway Insurance Group is one of the leading brands in the banking & financial services sector. The table below also lists the top Safeway Insurance Group competitors and elaborates Safeway Insurance Group market segmentation, target group, positioning & Unique Selling Proposition (USP).

Safeway Insurance Group SWOT, Competitors, Marketing STP & Brand analysis Table
Safeway Insurance Group Brand Analysis
Parent Company

Safeway Insurance Group

Category

Financial Services

Sector

Banking & Financial Services

Tagline/ Slogan

-

USP

Makes cheaper insurance the safe, great value choice with over 50 years of experience

Safeway Insurance Group STP
Segment

Auto, Home and Renter’s insurance

Target Group

Affordable families and individuals

Positioning

Privately held insurance company primarily into Auto insurance

Safeway Insurance Group SWOT Analysis
Strengths

Below is the Strengths, Weaknesses, Opportunities & Threats (SWOT) Analysis of Safeway Insurance Group. Strengths are:

1. Largest, privately held, family owned insurance company in the United States
2. Easy to use payment system with MySafeway
3. Safeway offers coverage to drivers who may have less than perfect driving records and may not be able to find coverage elsewhere and for those who have never had insurance coverage before

4. It offers customers a useful website with helpful tips such as what to do after an auto accident

5. Has excellent financial strength and customer service ratings

6. Operates through local agents who help the customer find affordable options to individual insurance needs

7. Good value for your insurance dollar and reliable customer service

Weaknesses

Here are the weaknesses in the Safeway Insurance Group SWOT Analysis:

1. Very less visibility among common public

2. Coverage available only in a few US states

3. Operations limited to only in US means less revenues compared to global financial institutions

Opportunities

Following are the Opportunities in Safeway Insurance Group SWOT Analysis:

1. Increase of lower-income people who are eligible for coverage 2.Introduce more products in line with the changing needs of customers

Threats

The threats in the SWOT Analysis of Safeway Insurance Group are as mentioned:

1. Competition from major players as Safeway is still a small company
2. The addition of lower income people poses a huge challenge in terms of scaling up its operations

Safeway Insurance Group Competition
Competitors

Below are the top 2 Safeway Insurance Group competitors:

1. Progressive Corporation

2. Geico

 

The brandguide table above concludes the Safeway Insurance Group 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. Browse marketing analysis of more brands and companies similar to Safeway Insurance Group. The BrandGuide section covers SWOT Analysis, USP, STP & Competition of more than 6000 brands from over 20 categories.

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