Title: Buying motives as demand factors for life insurances in emerging and developed markets: the case of Romania and Austria

Authors: Katharina Radler; Vito Bobek; Romana Korez Vide; Tatjana Horvat

Addresses: University of Applied Sciences FH Joanneum, Eggenberger Allee 11, 8020 Graz, Austria ' University of Applied Sciences FH Joanneum, Eggenberger Allee 11, 8020 Graz, Austria ' Faculty of Economics and Business, University of Maribor, Razlagova 14, 2000 Maribor, Slovenia ' Faculty of Management, University of Primorska, Cankarjeva 5, 6000 Koper, Slovenia

Abstract: This paper aims to explore buying motives as demand factors for life insurances and private pensions in emerging and developed markets, based on the comparative analysis of findings of surveys and interviews conducted in Romania and Austria.1 The comparative analysis between the quantitative research has shown that in Romania several more factors were influencing the steps between having no intention, the intention and the decision to buy a life insurance and private pension product than in Austria. However, trust in insurance companies and the central role of the sales agents have shown to be decisive for wanting to buy or having already acquired a life insurance in both countries. In Austria it is a personal choice, if the customer wants to invest in life insurance, in Romania, however, it is a challenge related to the regulatory and economic perspective of the country.

Keywords: life insurances; demand factors; buying motives; emerging markets; Romania; Austria.

DOI: 10.1504/IJTGM.2020.108779

International Journal of Trade and Global Markets, 2020 Vol.13 No.3, pp.323 - 347

Received: 30 Jan 2019
Accepted: 30 Apr 2019

Published online: 28 Jul 2020 *

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