The purpose of this research is to
examine the consumer's insurance needs satisfaction fulfillment, using a
structured Hierarchy Model of Insurance needs, during the detection and
analyzing needs sales procedure.
Design /methodology/ approach
In order to examine all the above
a qualitative research was held in inductive manner, under the research
philosophy of phenomenology via depth interviews. Depth interviews were
conducted in April of 2018 out of five professionals of the Greek insurance
market. The thorough analysis of primary data and coding of the findings with
interdisciplinary approach combined with the subjectivity and reflexivity of
the researcher contributed to the completion of the construction of the theory.
Findings
The results outcome show that the Hierarchy
Model of consumer’s Insurance Needs is a tool for a structured and organized
process, of identification and analysis of needs, resulting in a more accurate
assessment of needs. The basis of the Pyramid of the Hierarchy Model of
consumer’s Insurance Needs, is the greatest need / greater risk, which is the
most valuable asset or else the Human Life. The above stage, that is the
correct assessment of needs, affects the satisfaction of the client's insurance
needs (needSat).
Limitations
Certain limitations that need to
be mentioned, are that the research held in the Greek insurance market and is
focused on the standpoint of the Insurance market professionals, which are the
insurance providers and not from the consumer’s point of view. Secondly there is
not either a methodological triangulation not an alternative meanings test as a
method of verification of the results.
Originality/Value
Although satisfaction as a variable has been examined in
numerous surveys, satisfaction of needs is examined for the first time in this
survey. The concept and the variable needs satisfaction (needSat) is coming
ahead. In addition in this research the Hierarchy Model of consumer’s Insurance
Needs is grounded. In this research, the exploratory method is followed in order
to develop new theory, which in this case is the Hierarchy Model of consumer’s
Insurance Needs.
