Agricultural Insurance Marketing and Management: A Strategic Approach Using Time Series Analysis

Differentiation in insurance marketing varies across branches, serving as a significant determinant in shaping the strategies and policies to be adopted. While there are certain similarities between the insurance needs of producers in the agriculture, industry, and service sectors and those of households and consumers, notable differences also exist. The primary aim of this study is to develop a strategic approach to the marketing and management of agricultural insurance, which ranks as one of the foremost measures against risks in the agricultural sector. To this end, the series of policy counts, and premium amounts produced in the branches of crop production and livestock life insurance during the 2013–2023 period were forecasted, and the model types yielding the most successful results were identified. The stationarity of each branch of agricultural insurance was achieved by taking the first-order difference of the time series. The most suitable model was determined for each series. According to the obtained models, it is projected that the number of policies and the amount of premiums for agricultural insurance will increase in the coming periods. To ensure that insurance companies, producers, and intermediaries maximize their benefits from these developments, several recommendations regarding marketing and management practices have been proposed. The findings of this research are anticipated to contribute to the strategic marketing management and planning processes of businesses.