Abstract:

The data presented in this study, which has been derived from various CATI-Bus-Surveys made with respect to the population in West Germany, and from a Disk-by-Mail-Survey made with respect to insurance brokers, outlines the expectations and opinions expressed by German insurance customers and insurance brokers towards the European internal market for insurances. The majority of German insurance customers is pleased about the fact that due to this trend "their" insurance companies are faced with a stronger competition. At the same time the majority is relatively loyal towards "their" German insurance companies and has little confidence in foreign insurance companies. The insurance brokers are very confident and optimistic about the liberalization of the German insurance market. They believe that this trend will substantially increase their importance as "the person who guides potential clients through the labyrinth of insurance offers". As regards the insurance customers the broker enjoys a slightly better reputation than the company's agent, however, he is far from being accepted in his function as the so-called guide. Acceptance alone is doomed to failure due to the fact that the majority of the insurance customers does not really know the difference between a company's agent and a broker.