1st Central SWOT Analysis

Published in Banking & Financial Services category by MBA Skool Team, Last Updated: April 26, 2020

Here is a detailed SWOT analysis of 1st Central covering strengths, weaknesses, opportunities and threats.

t Central Strengths

  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.

Above are the strengths in the SWOT Analysis of 1st Central. The strengths of 1st Central looks at the key internal factors of its business which gives it competitive advantage in the market and strengthens its position.

t Central Weaknesses

  1. Only focused on UK customers means limited market share
  2. Still in the process of making itself an established Insurance company

These were the weaknesses in the 1st Central SWOT Analysis. The weaknesses of a brand are certain aspects of its business which it can improve.

t Central Opportunities

  1. Geographical expansion through tie-ups
  2. Introduce more products and services
  3. Acquisitions would help the brand grow further

Above we covered the opportunities in 1st Central SWOT Analysis. The opportunities for any brand can include prospects of future growth.

t Central Threats

  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

The threats in the SWOT Analysis of 1st Central are as mentioned above. The threats for any business can be external factors which can negatively impact its business.

Hence this concludes the 1st Central SWOT analysis.

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About 1st Central

The table below gives the brand overview along with its target market, segmentation, positioning & USP

1st Central Overview
Parent Company

1st 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
Segmentation

Car and Pet Insurance

Target Market

Working and middle class, Young and new drivers and motorists

Positioning

Low cost,  high standard insurance

 

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.

Browse marketing analysis of more brands and companies similar to 1st Central. This section covers SWOT Analysis along with Segmentation, Target Market, Positioning & USP of more than 2000 brands from over 20 industry sectors.

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