Determinants of Non-Life Insurance Consumption

The paper examines various personal, demographic and economic factors and their impact on the non-life insurance consumption in the Slovak Republic. Non-life insurance is complex and abstract service that has become an increasingly important part of the protection of individual's property by providing a wide range of policies for consumers. What are the key determinants associated with the non-life insurance consumption? Our results have identified most robust predictors of the non-life insurance consumption that could be used in predictions of consumer's consumption of property insurance. These results can help insurers to better understand their potential consumers and to improve their acquisition and segmentation techniques.