Features of marketing of insurance products

The interrelation of insurance service with an insurance product and insurance programs is analyzed in the article. On the example of the insurance products that are currently sold at the Russian insurance market the distinctive properties of the insurance products are revealed. The purposes and the structure of the directions of marketing of insurance products are discussed. Two main directions of insurance marketing are allocated: structural, or organizational, marketing and commodity, or market, marketing. The purpose of organizational marketing is the increasing of the economic efficiency of the activity of insurance company that is reached by optimization of the internal structure of the insurer. The purposes of market marketing are: 1) improvement of financial and economic activity of the insurer; 2) increase of profitability and remunerativeness of insurance company that is reached by means of the analysis of the condition of the external and internal environment, including changes of the commodity environment – insurance products. The characteristic of functions of insurance marketing is given: analytical, commodity, marketing, functions of persuasion and stimulation, management and control function. Features of marketing of insurance products are analyzed with regards to the specifics of insurance. Four stages of the marketing cycle in insurance are characterized. Ultimate goals, tasks and the instruments of their achievement are revealed at each stage. Effectively organized marketing of insurance products will allow insurance company increasing profitability of insurance business.

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