Effect of Advertising on Public Awareness in life Insurances: a Case Study of Dana Insurance Company in Mashhad

Document Type: Case Study

Authors

Department of Business Management, Neyshabur Branch, Islamic Azad University, Neyshabur, Iran

Abstract

Considering significance of life insurance and as these insurance policies are  regarded as a development criterion in many countries worldwide, as well as lack of knowledge about the existence, recognition, features and advantages of such insurance policies, advertising plays a critical role in marketing and selling these policies. Therefore, this research studies the effect of advertising on public awareness with comprehensive life and Endowment insurance based on Dagmar model. It is an applied research in term of objective and a descriptive-survey research in term of methodology. Research statistical population consisted of 750 policyholders of life and endowment insurance in Dana insurance Company. Data collected through questionnaire. Sample size was estimated 254 individuals according to statistical Morgan’s table of sample size. Finally, 300 samples were tested for better validation of obtained data and results. Regarding disparity of insurers in different urban areas, Mashhad city insurers selected through cluster random sampling method. Data analyzed using SPSS software. In addition, advertising effect on Public awareness and familiarity with life insurance examined by Pearson correlation coefficient, Binominal test and t-test. Research results showed that advertising positively influences people knowledge and recognition of saving and life and endowment insurance. In other word, the higher the advertising is informative, the more the people are aware of such policies. More advertisements about benefits and characteristics of insurance policies leads to increased knowledge of people on such policies so that they tend to purchase more insurance policies.

Keywords


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