Insurance market research

Financial and insurance market
Poland
Insurance services provider

Challenge:

Creating a competitive insurance offer

A global organisation in the finance and insurance industry decided to take advantage of the development potential of the Polish financial market and start their business here. To better understand the needs and preferences of local consumers, the company teamed up with PMR Consulting & Research. The client asked us to conduct an insurance market research and pinpoint areas that are most popular among customers.

Solution:

Insurance market research, including analysis of three key segments

To get a full picture of the insurance market in Poland, the PMR team used several different research methods. A dozen focus group interviews were supplemented by mystery shopper research.

The study involved the most important segments of the insurance market:

  • insurance for companies,
  • property insurance,
  • savings insurance.

The study enabled us to answer a number of specific questions, for instance:

  • What knowledge of insurance products do consumers have?
  • What motivates them to choose a particular insurance?
  • How do consumers decide to buy insurance?
  • Where do they purchase insurance?
  • What are the strengths and weaknesses of customer service in competing companies?

Effect:

An insurance offer tailored to customer expectations

As a result of research conducted by PMR, the client was well prepared to enter the Polish insurance market. A better understanding of the market, competition and customers allowed the company to:

  • adjust its offer of insurance services to the expectations of Polish consumers,
  • include in their offer services responding to currently unmet needs,
  • make decisions to be one step ahead of competing companies,
  • effectively compete in segments with high growth potential.

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