Life insurance companies marketing strategy in the digital world
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Author(s)Olena PrymostkaLink to ORCID Index: https://orcid.org/0000-0002-5887-7951
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DOIhttp://dx.doi.org/10.21511/ins.09(1).2018.06
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Article InfoVolume 9 2018, Issue #1, pp. 70-78
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Creative Commons Attribution 4.0 International License
The research is aimed to evaluate the internet marketing strategies in of life insurance companies in Ukraine. The insurance service in the time of digitalization faces scenarios of implementation in the marketing strategy on-line component. The main challenge for Ukrainian life insurance companies comparatively with the world practice is non-obligatory status of such kind of insurance contracts. So, on the one hand, costs of operation, regulatory pressures and inflexible technology infrastructure are increasing, and, on the other hand, economic recession does not allow to increase the number of insured persons, premiums and profit growth.
Sector of financial services is characterized by an increase in the level of competition, life insurance compelled to compete with pensions funds, banks and other financial institutions in order to defend their market share. Insurance companies marketing strategy determines how an insurer can best achieve its goals and objectives, keep existing customers and attract new ones with minimal costs.
Keeping all the above problems around the study would attempt to study all the factors that contributed to the effective marketing strategies. This paper presents different marketing strategies that are taken up in life insurance services keeping in view external and internal environment of the company.
- Keywords
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JEL Classification (Paper profile tab)G22, G23
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References16
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Tables10
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Figures1
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- Fig. 1. Diagram of the dynamics of number of insurance companies
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- Table 1. Concentration of the life insurance market in Ukraine as of January 1, 2017
- Table 2. Life insurance programs of insurance companies in Ukraine
- Table 3. Comparison of corporate life insurance company websites
- Таble 4. Online insurance tools on life insurance companies’ sites
- Table 5. Comparison of pages of social networks of life insurance companies in Ukraine by the number of subscribers as of November 1, 2017
- Table 6. Expenses on sales of life insurance companies in Ukraine
- Table 7. Insurance premiums of life insurance companies in Ukraine, thousand UAH
- Table 8. Value of insurance premiums to expenses of life insurance companies
- Table 9. The main indicators of life insurance companies in Ukraine as of January 1, 2017
- Table 10. Indicators of the economic efficiency of marketing activities of life insurance companies in Ukraine as of January 1, 2017
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Trung Kien Phan 
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Thi Hong Thuy Nguyen ,
Thu Ha Dang ,
Van Thuan Tran ,
Kim Ngoc Le
doi: http://dx.doi.org/10.21511/ppm.19(4).2021.05
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Exploring fast moving consumer goods (FMCG) small, medium and micro enterprises manufacturers’ need for innovation to achieve growth
Lawrence Mpele Lekhanya ,
Nze Grace Olajumoke ,
Dorasamy Nirmala
doi: http://dx.doi.org/10.21511/ee.08(2).2017.01
Environmental Economics Volume 8, 2017 Issue #2 pp. 8-16 Views: 5596 Downloads: 1177 TO CITE АНОТАЦІЯThe purpose of this paper is to investigate the problems of the sustainable development, to explore the level of innovation in the fast moving consumer goods (FMCG) manufacturing SMMEs sectors, which most affects on the state of the environment, to identify the causes of low innovation in the industry and to examine these factors influence on the effectiveness of SMMEs manufacturers innovation strategies, as well as to invent a new innovation strategic approach to overcome innovation problems in the economic growth of fast moving consumer goods SMMEs manufacturers. The study is aimed to determine the level of innovation and factors contributing to low innovation in fast moving consumer goods (FMCG) SMMEs manufacturers, which hinder their economic performance. Mixed approach of quantitative and qualitative questionnaire is used for primary data collection. Sample consists of 120 SMMEs. Statistical Package for Social Sciences (SPSS) (23.0) was employed for data analysis. The study results are presented with figures and diagrams. This study will be a useful tool for general public and relevant stakeholders in this sector.
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Challenges of small and medium enterprises during the COVID-19 pandemic: Case of Georgia
Amiran Maglakelidze ,
Gulnaz Erkomaishvili
doi: http://dx.doi.org/10.21511/ppm.19(4).2021.02
Problems and Perspectives in Management Volume 19, 2021 Issue #4 pp. 20-28 Views: 3083 Downloads: 1600 TO CITE АНОТАЦІЯThe COVID-19 pandemic has had a significant impact on small and medium enterprises (SMEs). The purpose of this study is to assess the impact of the COVID-19 pandemic on SMEs in Georgia, identify the challenges of SMEs in pandemic conditions, and analyze government economic policy measures. For this purpose, 102 small and medium entrepreneurs from different regions of Georgia were interviewed. The survey was conducted by sending a questionnaire through digital channels. The results were processed using data analysis, quantitative and qualitative research methods, and presented graphically. As a result, key challenges and development directions that are typical for SMEs operations in Georgia during the pandemic were identified. For 60.8% of surveyed SME owners, lockdown is the main challenge. Sales volume of 45.1% of SMEs decreased. In addition, 39.3% of the surveyed SME owners increased the innovative capabilities of a company and 37.2% increased the sales volume of a company through digital channels. The main challenge of the pandemic, lockdown, gave impetus to a change in entrepreneurial behavior. In a pandemic, entrepreneurial activity has become more favorable through digital channels. During the pandemic, there is a need to continue the government’s program of tax incentives and subsidies for SMEs. In addition, the government should promote education in the fields of entrepreneurship, innovation, and technology.
