MISSELLING BARRIER TO THE DEVELOPMENT OF INSURANCE IN POLAND
Journal Title: Volumina Jurassica - Year 2016, Vol 17, Issue 2
Abstract
The purpose of the text is to show the effects of mis-selling, mis-selling of financial products, inadequate and unsuitable to the needs of customers and uses the factors preventing these unethical practices on the example of insurance products. The mechanism of control and supervision lags behind the inventiveness of the financial market and product innovation. The use of information asymmetry, aware of the introduction of customer confusion by not distribute comprehensive knowledge about the product and to avoid liability for improper sales, is one of the major sins of insurance companies. Improving the assessment of the financial sector by a customer requires a change of approach to the customer by the insurer, bank or other financial intermediary. It is necessary reevaluation of the exist-ing market strategies of insurers and banks to their customers. Create relationships with clients based on trust and credibility is beneficial for financial institutions, including insurers but also for customers and for the state. Recently introduced changes to the law will ensure better protection of consumers, Research methods used in the article include: analysis of literature and comparative analysis
Authors and Affiliations
Ewa Wierzbicka
Keywords
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