THE EFFECT OF PROMPT CLAIMS SETTLEMENT ON THE MARKETING OF INSURANCE SERVICES IN NIGERIA (A STUDY OF INSURANCE COMPANIES IN ENUGU METROPOLIS)

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ABSTRACT

The vital role played by insurance in every developed nation of the world is invaluable. However, its penetration in the economy of Nigeria as a nation is at is lowest ebb. The abundant benefits derivable from insurance are enormous yet marketing this product is fraught with challenges. One factor held respondent for this is the poor settlement of claims. This work therefore is aimed at determining the effect of prompt claim settlement as a tool for marketing insurance services in Nigeria. The researcher consulted widely from many scholarly work and questionnaires where issued to respondents comprising staff of insurance firms and the insuring public in Enugu. Chi-square statistical method was used for testing the hypothesis formulated. It was discovered that if the marketing of insurance services in the country is to be successful, prompt claims settlement is a veritable tool for achieving this feat. Appropriate recommendations were made from the findings discovered.

TABLE OF CONTENTS

Title

Approval

Dedication

Acknowledgements

Abstract

CHAPTER ONE:

INTRODUCTION

1.1 Background of the Study

1.2 Statement of the Problem

1.3 Objectives of the Study

1.4 Research Questions

1.5 Research Hypothesis

1.6 Significance of the Study

1.7 Scope and Limitations of the Study

1.8 Definition of Operational Terms

CHAPTER TWO:

REVIEW OF RELATED LITERATURE

2.1 Concept of Insurance â€œBusiness in Nigeria

2.2 Historical Development of Insurance

2.2.1Modern Insurance in Nigeria

2.3 Reasons for Insurance

2.4 Classification of Insurance Business Nigeria

2.5 Concept of Marketing Insurance Services

2.6 Characteristics of Marketing Insurance

2.6.1Intangibility

2.6.2Transience

2.6.3Regulation

2.6.4Quality of Staff

2.6.5Evaluation of Insurance Service

2.7 Factors Affecting the Marketing of Insurance Services in Nigeria

2.8 The Process of Claims Handling in Insurance

2.8.1Concept of Claims

2.8.2Claims Procedure

2.8.3Handling Claims

2.9 Method of Claim Settlement in Insurance

2.10 Claims Disagreement

2.11 Ways of Resolving Claims Disputes In Insurance

2.12 Factors Inhibiting Smooth Claims Settlement

2.13 The Effect of Poor Claim Settlement on the Insurance Industry

2.14 Ways of Improving Poor Claims Settlement

2.15 Benefit of Efficient Claims Treatment to the Public

CHAPTER THREE:

RESEARCH METHODOLOGY

3.1 Introduction

3.2 Research Design

3.3 Sources of Data and Instrument for Data Collection

3.4.1Primary Source

3.4 Population of the Study

3.5 Sample Size and Sampling Techniques

3.6 Validity of the Instrument

3.6.1Validity of the Instrument

3.6.2Reliability of the Instrument

3.7 Method of Data Presentation and Analysis

CHAPTER FOUR:

DATA PRESENTATION AND ANALYSIS

Introduction

4.1 Bio Data

4.2 Effect of Claims Settlement on Marketing insurance Services in Nigeria

4.3 Factors Responsible for Poor Settlement of Claims

4.4 Ways of Improving Claims Settlement

4.5 Testing of Hypothesis

CHAPTER FIVE:

SUMMARY OF FINDINGS, CONCLUSION AND RECOMMENDATIONS

5.1 Summary of Findings

5.2 Conclusion

5.3 Recommendations

Bibliography

Appendix

Questionnaire

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THE EFFECT OF PROMPT CLAIMS SETTLEMENT ON THE MARKETING OF INSURANCE SERVICES IN NIGERIA (A STUDY OF INSURANCE COMPANIES IN ENUGU METROPOLIS)

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