| Abstract: |
A regular obstacle in insurance business is the problem of attracting new
users of insurance products/services while it is getting more difficult to
keep the existing clients. Beside financial risk and barriers to exit which
restrain clients contractually and legally from leaving an insurance provider
and switching to another, there aren't many reasons why they should not do it,
and the possibilities are vast. That is why it is important to continually
strengthen the emotional bond with the clients and to affect their perception
of insurance provider’s brand strength, brand reliability and quality. Another
limitation in attracting new clients is a significant similarity in the offer
of all insurance providers, which is why they have to make effort to create a
recognizable differential advantage which will be noticed by the clients and
not easily imitated by the competitors. Not enough attention is given to
strengthening the brand of insurance providers and brand equity is exactly
what can affect the opinion of clients when choosing or changing an insurance
provider. The feeling of belonging to a particular insurance provider is the
most important factor because it is a generator strong bond with the brand. In
order for insurance users to gain trust in the insurance provider, it has to
make sure that users have solid understanding of types of insurance coverage
and exclusions in their insurance policies. In practice it is often the
opposite, which creates lower level of satisfaction on clients' side due to
high expectations. By analysing market research results, the author examines
aspects of perceived stability, trust and reliability of insurance providers’
brands on Croatian market. After collecting insurance users' attitudes and
opinions based on their previous experiences and perception, the author makes
conclusions regarding their current and future loyalty by methods of synthesis
and induction. |