Published by MBA Skool Team, Last Updated: April 26, 2020
SWOT analysis of Travel Guard analyses the brand by its strengths, weaknesses, opportunities & threats. In Travel Guard 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 Travel Guard to benchmark its business & performance as compared to the competitors. Travel Guard is one of the leading brands in the banking & financial services sector.
The article below lists the Travel Guard SWOT, competitors and includes its target market, segmentation, positioning & USP. Let us start the Travel Guard SWOT Analysis:
For Travel Guard, SWOT analysis can help the brand focus on building upon its strengths and opportunities while addressing its weaknesses as well as threats to improve its market position.
Travel Guard Strengths
The strengths of Travel Guard looks at the key aspects of its business which gives it competitive advantage in the market. Some important factors in a brand's strengths include its financial position, experienced workforce, product uniqueness & intangible assets like brand value. Below are the Strengths in the SWOT Analysis of Travel Guard :
1. America’s leading provider of travel insurance and assistance programs
2. Specialized in providing innovative travel insurance, assistance and emergency travel service plans for millions of travelers and thousands of companies throughout the world
3. Their comprehensive travel insurance plans are distributed by more than 12,000 travel companies through virtually every distribution channel in the travel industry
4. Has a global presence with worldwide assistance centers
5. Different plans (Gold, Platinum) to suit different set of customers
6. Gives generous service warranty of returning the refund if the customer is not satisfied thus proving its commitment to the customer
7. Provides 24/7-customer service with a personal touch through its World Service Center
8. Travel Guard’s global reach, service quality and proven operational capabilities allow travelers to receive best-in-class care
Travel Guard Weaknesses
The weaknesses of a brand are certain aspects of its business which are it can improve to increase its position further. Certain weaknesses can be defined as attributes which the company is lacking or in which the competitors are better. Here are the weaknesses in the Travel Guard SWOT Analysis:
1. Does not offer a missed connection benefit
2. travel benefits are average when compared to other travel insurance policies
Travel Guard Opportunities
The opportunities for any brand can include areas of improvement to increase its business. A brand's opportunities can lie in geographic expansion, product improvements, better communication etc. Following are the opportunities in Travel Guard SWOT Analysis:
1. Can make the customers more aware about having a travel insurance
2. Have tie-ups with travel agencies and companies
3. More geographic reach can help increase the brand awareness
Travel Guard Threats
The threats for any business can be factors which can negatively impact its business. Some factors like increased competitor activity, changing government policies, alternate products or services etc. can be threats. The threats in the SWOT Analysis of Travel Guard are as mentioned:
1. Many new and small players in the travel insurance segment 2. Customers might take advantage of the service warranty provided
3. Unfavorable financial sector dynamics and fluctuating currencies
Travel Guard Competitors
There are several brands in the market which are competing for the same set of customers. Below are the top 2 competitors of Travel Guard:
1. Travel Safe 2. Travel Ex
Hence this concludes the Travel Guard SWOT analysis.
Committed to providing products and services that will exceed expectation
Travel Guard STP
Travel insurance, assistance and emergency travel service plans
Affordable Individuals, Families and Groups
Valuable coverage that travels with the customer
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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