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Impact of financial crisis on the decision making process for insurance consumers

Author

Listed:
  • Laura Elly NAGHI

    (Bucharest University of Economic Studies, Romania)

  • Mihaela COVRIG

    (Bucharest University of Economic Studies, Romania)

  • Adrian FEDEROVICI

    (Bucharest University of Economic Studies, Romania)

Abstract

After 6 years from the debut of the financial crisis, the insurance market in Romania is significantly feeling the effect of this phenomenon, by having to deal with a reduction in the appetite of the insurance consumer even for a typical policy such as CASCO or MTPL. The companies are prone to change their approach to the market due to the changes in the consumer's behavior. The paper aims to analyze the tendencies on the Romanian insurance market, based on an AHP analysis regarding the motivational factors taken into consideration by consumers when signing a CASCO insurance. The study conducted will reveal also whether or not the strategies currently implemented by insurance companies in this line of business are sufficiently appropriate, in this aftermath of the crisis, or should there be more of a change in this direction.

Suggested Citation

  • Laura Elly NAGHI & Mihaela COVRIG & Adrian FEDEROVICI, 2015. "Impact of financial crisis on the decision making process for insurance consumers," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania / Editura Economica, vol. 0(1(602), S), pages 301-310, Spring.
    • Handle: RePEc:agr:journl:v:xxii:y:2015:i:1(602):p:301-310
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