The role of marketing in the improvement of consumers' satisfaction

Abstract

Marketing in insurance companies aims to make profits through the creation of satisfied and loyal insureds. Insurance companies should create an offer in order to satisfy the needs of existing and potential insureds, to find the best way to present this offer to potential insurers, as well as the most appropriate way of distributing the offer of insurance coverage. The starting point in this paper is the fact that the marketing approach in insurance is isolated and mostly identified with sales and advertising, rather than a more comprehensive view of the expanded marketing mix known as 7P. Marketing allows insurance companies to adjust the insurance premium, apply adequate distribution and promotion, manage the marketing orientation in the management of claims, and effectively and efficiently manage the relationships with the customers (insureds). Bearing in mind that the application of the modern concept of marketing can enable insurance companies to adapt more effectively to market conditions, the aim of this paper is to point out the importance of marketing orientation in every business activity of insurance companies as preconditions for improving the satisfaction of the insureds.

Keywords

• customer relationship management (CRM)
• distribution channels
• premiums
• promotions