Economic Review, Vol. 56 No. 7-8, 2005.
Review article
CORPORATIVE IMAGE - THE KEY FACTOR OF SURVIVAL AND DEVELOPMENT OF INSURANCE COMPANY AT GLOBAL MARKET
Ratko Zelenika
Mirjana babić
Abstract
Under the influence of globalization, the competition on Croatian insurance market is also rising, where equal or similar services are being offered. Due to that, as well as the risk of unpaid future damage which is facing the insured when contracting for insurance policy, the role of corporative image improvement of insurance company is becoming more and more important in enlarging it’s competitiveness on market, growth of market share and profit. So, the regular implementation of corporative image and running it is becoming the key factor of insurance company’s existence and development which is running a business in conditions of global economy, so image management is becoming the fundamental market discipline of every successful insurance company. After the results of researches, the best image (between seven largest insurance companies) on insurance market in Primorsko-goranska region holds The Croatia insurance company, which also holds the largest market share. On the second place is Allianz Zagreb, which stands on the third place of market share. However, to continue the successful business running in conditions of strong global competition, both insurance companies will have to relocate their image. The reason for that stands in fact that examinees see Croatia as an obsolete insurance company, which doesn’t have high-quality relation with their insured, and they experience Allianz as a small insurance company with high prices and low accessibility of insurance products.
Keywords
corporative image; globalisation; image management
Hrčak ID:
10295
URI
Publication date:
25.8.2005.
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