Competition in Insurance

Karadjova, Vera (2007) Competition in Insurance. In: XII Scientific conference, Regional development and demographic flows of south-east european countries, 22 June 2007, Nis, Serbia.

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Insurance as a specific phenomenon of social living performs several functions, some of which are the protective, accumulative and developmental function. Developing through its long history of existence, in these contemporary conditions it has acquired some particularities immanent to the market economy and the respect for market regularities. In that sense, we have the development of the so-called financial conglomerates and "financial supermarkets". Having in mind the rapid progress of financial markets and the introduction of more and more differentiated financial instruments, as well as the efforts of preserving the position in the financial market and the extension of one’s activities with the final aim of increasing the profit, there has been a pronounced strengthening of the competition among financial institutions. Speaking of competition, and having in mind the marketing concept, with its four basic elements – product, price, distribution and promotion, it is necessary to analyse the competition from all these aspects. Nevertheless, a more simplified approach would involve emphasizing the price competition and quality competition, whereas the quality is seen as Total Quality.
Keywords: insurance, developmental function, financial conglomerates, financial supermarkets, price competition, quality competition.

Item Type: Conference or Workshop Item (Paper)
Subjects: Scientific Fields (Frascati) > Social Sciences > Economics and Business
Divisions: Faculty of Tourism and Hospitality
Depositing User: Prof. d-r Vera Karadjova
Date Deposited: 27 May 2020 22:18
Last Modified: 27 May 2020 22:18

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