The Influence of Advertising in Insurance Companies in Albania and Consumer Decision Making Process

Abstract

This study aims to study the impact of advertising and their different strategies in the insurance industry. It also focuses on the role of insurance in general and the role of the FSA ( Financial Supervisory Authority ) as a supervisory authority for the insurance sector. The study also includes an overview of the different players in the market for this specific sector. Albanian insurance is a new industry, with several national and international competitive participants, which is growing rapidly. Thanks to the reforms and and facilitating rules and policies, it is increased the role of advertising that influences on consumer choice. Nature of being descriptive and explanatory of this study shows that findings have been made through theoretical analysis in order to receive an insight perception into relationships “cause consequence” of advertising and consumer perception about insurance products, which ultimately affect in general in the insurance industry. Thus, detailed descriptions of specific issues relating to purchasing consumer behavior and the effect of advertising in this particular industry are studied using a detailed questionnaire to interview customers and observing their behavior after a detailed review that is made.