ENSURING POSITIVE CONSUMERS ATTITUDE TOWARDS INSURANCE CONTRACT IN NIGERIA

ENSURING POSITIVE CONSUMERS ATTITUDE TOWARDS INSURANCE CONTRACT IN NIGERIA

ABSTRACT

This project aims to reveal public attitudes towards insurance policies in Nigeria. The topic to be discussed is “Ensuring positive consumer attitudes towards insurance policies in Nigeria. Study by IGI Enugu”. Chapter 1 of this paper discussed the introduction, the significance of the study, the problem statement and definitions of terms, and the limitations of the study. In Chapter 2, we reviewed some relevant literature. Chapter 3, Study Design and Methodology, focuses on the methods used in the course of this work. It refers to the type of sampling method used to collect data, and also specifies the type of data used and its source. Chapter 4 presented a summary and discussion of the results. Finally, Chapter 5 provided conclusions and recommendations. Where I saw insurance practitioners need to do more to attract the general public to emphasize the importance of insurance

table of contents

front page ii authentication iii

dedication iv

Recognitionv

Contents vi

chapter One

Foreword

1.1 Research Background 1

1.2 Problem 6

1.3 Purpose of the study 6

1.4 Research Question 7

1.5 Validity of research

chapter One

Foreword

1.1 Research background

This study initially deals with insurance. Insurance as a risk management tool is therefore a contract for human financial well-being. It is also inherent in every society and attracts the attention of people of all ages as a way of avoiding and mitigating the economic impact of misfortune. There was no organized insurance business like there is. There are some traditional risk-sharing schemes that can be described as clumsy or primitive forms of mutual and social insurance schemes. The extended family system, the old man’s association, and the neighborhood association were mutual insurance schemes to show mercy to members who suffered misfortunes such as death, illness, fire, or lawsuits. Although the extended family system and clans or town associations still exist in Nigeria today, most of its insurance functions have been taken over by the organized insurance scheme. Age-class systems still play an important role in some parts of the country, especially in matters of moral development, but they provide important insurance services to their members, similar to extended family systems and clan organizations. No. The marketing determinant, in turn, is the producer’s ability to provide consumer-satisfying quality and quantity of goods at an affordable price and in an accessible location. In order to offer these goods, the manufacturer must think and look at the customer or customers as “kings”.