Formulating marketing strategy of Si Bijak microinsurance using SWOT analysis, marketing mix and Business Model Canvas

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Published: May 20, 2024
DOI: https://doi.org/10.46806/jep.v31i1.1143
Keywords:
Micro-insurance, marketing strategy, SWOT analysis, Business Model Canvas

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Srikandi Utami
Graduate School of Management, Kwik Kian Gie School of Business and Information Technology, Jakarta, Indonesia
Freddy Rangkuti
Graduate School of Management, Kwik Kian Gie School of Business and Information Technology, Jakarta, Indonesia

Abstract

Life risks can happen to anyone, including low-income people who are vulnerable to the risk of death and loss of property due to unexpected events. This research uses SWOT analysis, marketing strategy, 7P marketing mix, and Business Model Canvas to find out the causes of sales failure and solutions that can be used as a reference for the sale of Si Bijak microinsurance in the future. This research method uses qualitative methods through literature analysis, data, and information from interviews with 4 (four) subjects directly conducted in November 2023-January 2024 and verified through repeated checks so that it can be analyzed. The results showed the need for repricing and the number of insurance benefits, the addition of diverse marketing communication channels and media, massive sales activities through cooperation with microfinance institutions, social institutions, and communities, development of microinsurance application technology, increasing education/literacy to the public, promotional activities for ease of sales, and supervision and support from regulators.

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How to Cite
Utami, S. ., & Rangkuti, F. (2024). Formulating marketing strategy of Si Bijak microinsurance using SWOT analysis, marketing mix and Business Model Canvas. Jurnal Ekonomi Perusahaan, 31(1), 67–83. https://doi.org/10.46806/jep.v31i1.1143
Issue
Vol. 31 No. 1 (2024): March-August 2024
Section
Case Study
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This work is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.

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