Approaches to formulating marketing strategies in Kosovo insurance companies

Abstract

Today, in current market conditions of life and work, the insurance market has expanded. As a result, the competition is very high and the relationship between insurers causes constant changes. A rigorous approach to increasing insurance profits has shown some insurers that they have to give up the hard base offered to insured. The need for an insurance service is constantly increasing, which needs to be continually improved and adapted to the conditions and needs of the buyers of insurance services. For this reason, insurance institutions must constantly monitor and know what is happening on the insurance market so they can be based on the development of the insurance business. Increasing insurance profits is unthinkable without applying a marketing strategy. The purpose of this article is to justify the need to develop marketing strategies in Kosovo’s insurance business.