Standard Insurance SWOT Analysis, Competitors & USP

Posted in Banking & Financial Services, Total Reads: 1625

SWOT analysis of Standard Insurance analyses the brand/company with its strengths, weaknesses, opportunities & threats. Standard Insurance is one of the leading brands in the banking & financial services sector. The table below also lists the top Standard Insurance competitors and elaborates Standard Insurance segmentation, targeting, positioning & USP.

Standard Insurance

Parent Company

Standard Insurance

Category

Insurance

Sector

Banking & Financial Services

Tagline/ Slogan

Insurance, Retirement Investments and Advice

USP

Wide range of products and services offered that suit the unique needs of a customer

Standard Insurance STP

Segment

Insurance and Financial Services

Target Group

Individuals, employees and retirees

Positioning

Affordable insurance in your community

Standard Insurance SWOT Analysis

Strengths

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

1. Committed to sustainability and a very active social worker with constantly evolving green practices

2. Committed to expedient, personal support and doing the right thing for customers
3. One of the first insurance companies to implement a waiver of premium – allowing permanently disabled policyholders to keep their insurance without paying any additional premiums

4. Maintaining an "A" rating from A.M. Best Company since 1928

5. Excellent customer service while still seeking attractive business opportunities

6. Disciplined business practices, sound investment strategies and unique industry expertise which together enable strong financial strength

Weaknesses

Here are the weaknesses in the Standard Insurance SWOT Analysis:

1. Very less known among the public hence less awareness

2. Operations are very less as compared to bigger insurance global brands

Opportunities

Following are the Opportunities in Standard Insurance SWOT Analysis:

1. With the increasing need of sustainability and reduction in ecological foot print, Standard is going in the right direction and can further enhance its processes

2. Can introduce more products with the changing needs of the customers

Threats

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

1. Competition from small and new players in the insurance industry
2. Increasingly knowledgeable and aware customers

3. Rapidly evolving markets, changing customer needs and challenging economic times

Standard Insurance Competition

Competitors

Below are the top 3 Standard Insurance competitors:

1.Eagle Star Insurance
2.American Central Insurance Services
3.Century Insurance Centres

 

The brandguide table above concludes the Standard 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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