Ensuring Positive Consumers Attitude Towards Insurance Contract In Nigeria

Ensuring Positive Consumers Attitude Towards Insurance Contract In Nigeria

Abstract

This design is designed to determine the station of the general public towards insurance contract in Nigeria. The content to be bandied is “ icing positive consumers station towards insurance contract in Nigeria. A study of IGI Enugu ”. In chapter one of this work, I treated the preface, significance of the study, statement of problems and description of terms and also limitations of the study. In chapter two, I reviewed some affiliated literature. Chapter three is the exploration design and methodology which concentrated on the system employed in the course of this work. It related to the type of sample system of collecting data, it also give the types of data used and its sources. In chapter four, I presented the summary of findings and discussion. Eventually, in chapter five I presented the conclusion and recommendations. Where I for saw the need of the insurance guru putting further sweats towards attracting the general public in adurring the important of insurance

TABLE OF CONTENT

Title runner ii instrument iii

fidelity iv

Acknowledgement v

Table of content vi

CHAPTER ONE

preface

Background of study 1

Statement of the problem 6

ideal of study 6

exploration question 7

Significance of the study 8

compass of the study 8

Limitation of the study 9

description of terms 10

Reference 12

CHAPTER TWO

REVIEW OF RELATED LITERATURE

Meaning and purpose of insurance 13

The insurance request 15

The insurance request is up of the following 15

The insurers 16

The insurance interposers 17

Classes of insurance contracts 17

Marine insurance 18

Fire insurance 18

Life assurance business 19

Accident insurance 19

Factor affecting the insurance contract 20

Size and the distribution of population 21

public income 22

request competition 22

Consumers stations towards insurance contracts in

Nigeria 23

Religious effect 24

Social clubs and age grades 24

Ignorant 25

Claim procedure 26

Low standard of living 27

Fire insurance 27

Motor insurance 29

Marine insurance 30

Buyers/ consumers geste . 31

Claims record 32

Constraints of marketing insurance products 34

Problems of marketing insurance in Nigeria 35

Culture 35

Political 35

Frugality 36

Educational system 36

Odds in marketing insurance products 37

Quality of service/ poor marketing 37

Competition 38

fiscal stability 38

Training 39

Fake operation 39

Poor channel of distribution 39

Legal and nonsupervisory constraints 40

Reference 42

CHAPTER THREE3.1 exploration design and methodology 43

Sources of data 43

Primary data 43

Secondary data 43

Population of study 44

Determination of sample size 44

trustability of the study 45

CHAPTER FOUR

Summary of findings and discussion

Findings 46

Discussion 64

CHAPTER FIVE

CONCLUSION AND RECOMMENDATION

Conclusion 48

Recommendation 49

Bibliography 51

Excursus I 53

Excursus II 54

Chapter One

Preface

Background Of The Study

This exploration work will first look into insurance is each about; insurance as a threat operation device is, thus a contract to the profitable well- being of man. It’s also aboriginal in any society as a way of preventing and upgrading the fiscal consequences of mischance has been engaging the attention of man at every age. Before the arrival of the British trafficker in Nigeria, there was no systematized insurance business as we know it moment. There has been some was traditional system of threat sharing, which could be described as smut or primitive forms of collective and social insurance schemes. The extended family system, age- grade association, city union were some collective insurance like schemes for showing benevolence to their members who had suffered some mischances similar as death, ill- health, fire ravage or court case. Both the extended family system and clan or city union still exists in Nigeria moment, but utmost of their insurance function ahs been taken over by an systematized insurance system. also, the age grade system still plays on important part in some corridor of the country, especially in matters relating to moral development, but like the extended family system and clan unions, they no longer render any conspicuous insurance servicers to their members. also the determinant of every marketing is the capability of the directors to give for the consumers the quality and volume of goods that will satisfy also at affordable price, handed at accessible place. In event to give these goods, the patron should consider and see the client or guests as the “ king ”, this is because wit