The Role of Education on Consumer Behavior on the Insurance Market

Abstract Education has an extremely important role as it influences the insurance purchase decision. On the insurance market in Romania, there is a discrepancy between the high potential demand and the rather low real demand. This discrepancy can be explained by a series of economic reasons, as well as by the lack of education in the field. Within more extended research regarding the behavior of the insurance services’ consumer and the factors influencing it, we have studied the way in which insurance services are perceived by potential clients and the role education plays in this.