Identification of the Consumer of Insurance Services: Evidence from the Slovak Republic
Identification of the Consumer of Insurance Services: Evidence from the Slovak Republic

Author(s): Tomáš Ondruška, Zuzana Brokešova, Erika Pastoráková
Subject(s): Socio-Economic Research
Published by: Masarykova univerzita nakladatelství
Keywords: consumer; consumption; classification tree; life insurance; non-life insurance;
Summary/Abstract: Insurance industry is a dynamic part of the economy that must constantly reflect the change in needs of potential clients. Therefore, knowledge who is the potential client is essential requirement of the success of any insurance company which is trying to bring the tailor-made insurance offer. Similarly, because of the predominance of the supply-side in the insurance market, the proposed offer of the insurance should meet the expectations of consumers themselves and their current needs. The main aim of the paper is to identify the typical consumer of life and non-life insurance in Slovakia through personal, demographic and financial characteristics of individuals.

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