For understanding insurance services’ consumer behavior, it is necessary to study the particularities of the decision-making process on the insurance market. This paper aims to present the main characteristics of the different stages of the decision-making process: from those that precede...

Nowadays, the growth of the technology ensures increased competitiveness between small and medium sized companies (SMEs). SMEs must adopt solutions that are built on the principle of economic efficiency and they guarantee maximum results with minimum efforts. The performance in an SME company is...

This paper uses a novel experimental design to study the effect of hypothetical personal experience on the adoption of a new insurance product in rural China. Specifically, we conduct a set of insurance games with a random subset of farmers. Our findings show that playing insurance games...

This study investigates the impacts of consumers¡¦ characteristics, pet feeding habits, pet spending and insurance conditions of pet owners on the intention to purchase a pet insurance policy. Our results reveal that family income, average monthly spending on pets, and experience of purchasing...

The way in which insurance companies protect individuals is reflected at the level of the whole society. The more developed a society, the better it is protected – through insurance – against the various dangers its members are exposed to. Ethical, socially responsible behavior is not only...

During the past decade or so, financial institutions have been facing some of the most challenging times in their history. The world has become a much more open place, with competition coming from many sources that were of no great significance previously. Information is available freely and...

A typical pattern in markets featuring long-term consumer-firm relationships is for departure probabilities to decline with tenure. A crucial question is whether this actually implies increasing consumer preference for firms. If so, firms should actively try to convince consumers to remain...

In the insurance industry there is a new way of thinking which determined the passage from transactional marketing to a holistic marketing concept. In this paper five key elements of holistic marketing are presented: relationship marketing, integrated mar

Nowadays, the insurance market in Romania can be characterized thus: a developing market both from a quantitative and a qualitative point of view, with demand concentrated in areas of above-average economic activity, having a varied supply and increasing

Abstract Marketing of service product requires a slightly different strategy owing to the idiosyncratic nature of service items. The present study explores the customer oriented marketing strategy of LIC International in the Kingdom of Bahrain. The approach of the study was exploratory and...