Cigna SWOT analysis evaluates the brand by its strengths, weaknesses, opportunities & threats. In SWOT Analysis of Cigna, 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 Cigna to benchmark its business & performance as compared to the competitors, and make strategic improvements. Cigna is one of the leading brands in the pharma and healthcare sector.
The article below lists the Cigna SWOT, competitors and includes its target market, segmentation, positioning & USP. Let us start the Cigna SWOT Analysis:
In this article:
For Cigna, 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.
The strengths of Cigna 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 Cigna :
1. Specific plans and products focused at a specific segment – Needs of expatriates
2. Set of comprehensive products and policies
3. International presence – 25 countries
4. Strong operational presence and good image in the sector
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 Cigna SWOT Analysis:
1.Competitive industry means lower market share in healthcare
2. Alleged involvement in controversies and ethic issues gives negative publicity
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 Cigna SWOT Analysis:
1.Strategic alliances with other complementary firms
2.Can leverage international markets to create new markets
3.Acquisitions and mergers to consolidate market share
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 Cigna are as mentioned:
1.Rising unemployment and government interventions
2.Susceptible to price wars
3.Exchange rate fluctuations
There are several brands in the market which are competing for the same set of customers. Below are the top 3 competitors of Cigna:
2.United Health Group
3.Well point Inc
Hence this concludes the Cigna SWOT analysis.
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A Business of Caring
More than just a health insurance company
PPO , HMO, point of service, indemnity and consumer-directed products
Employers and Organizations , Brokers and Consultants, individuals and families
Global health service company helping people they serve improve their health , well-being and sense of security
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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