Abstract:

In investigating the market for the services of insurance companies, the problems which market research has to solve are quite different in character from those that arise in industries which market manufactures, whether consumer or investment goods. Market research work in the insurance business must of necessity be more specialised in certain respects but in others it covers a much wider field. Generally speaking, this is due to the fact that in this sector, although the aggregate offer and the total demand at a given time is known fairly accurately, the various concurrent factors which affect the volume of business in regard to a particular insurable risk, do not lend themselves to quantity assessment.