THE ROLE OF THE MARKETING MIX IN THE IMPROVEMENT OF AGRICULTURAL INSURANCE

Abstract

Specialization of agricultural production is closely associated with increased risk. Insurance is often used as a method of transferring risk from a farmer to an insurance company. The development of modern agriculture requires widening the scope of insurance coverage. Therefore, the paper analyzes the possibility of adjusting insurance offers to the specific needs in agriculture sector with the aim of increasing the number of insured business entities. First, it is necessary to properly defne the marketing mix in agricultural insurance. Second, it is equally important to permanently measure effectiveness and legitimacy of its application. Importance of the most commonly used indicator - the Return on Marketing Investment Coeffcient (ROMI), is underlined.

Keywords

• agribusiness
• agricultural insurance
• marketing mix
• marketing metrics