Marketing Insurance
Issued Date
2022-01-01
Resource Type
ISSN
21928096
eISSN
2192810X
Scopus ID
2-s2.0-85162024265
Journal Title
Management for Professionals
Volume
Part F379
Start Page
249
End Page
266
Rights Holder(s)
SCOPUS
Bibliographic Citation
Management for Professionals Vol.Part F379 (2022) , 249-266
Suggested Citation
Moschis G.P. Marketing Insurance. Management for Professionals Vol.Part F379 (2022) , 249-266. 266. doi:10.1007/978-3-031-13097-7_12 Retrieved from: https://repository.li.mahidol.ac.th/handle/20.500.14594/87676
Title
Marketing Insurance
Author(s)
Author's Affiliation
Other Contributor(s)
Abstract
Older consumers have a need for a wide variety of insurance products, but relatively few companies understand their needs and offer policies that appeal to this market. And selling such policies is not an easy task either, as sales associates must explain the benefits of owning the various policies that many older consumers do not think they need in part because they are not fully informed. Many companies develop products for the entire market, subscribing to the “one-size-fits all” notion, when older consumer needs for insurance products vary widely either because they are not fully informed about product benefits and risk factors or because they prefer to pay for only specific types of coverage. The challenging tasks for insurance companies are in educating consumers, developing a wide variety of policies, and pricing them “à la carte”. Establishing a trusting personal relationship between the older consumer and the company’s sales associate is crucial in helping older people understand the various options and in cross-selling multiple policies.