THE PROBLEMS ENCOUNTERED BY INTERMEDIARIES IN THE NIGERIA INSURANCE INDUSTRY AND THE FUTURE PROSPECTS
By
IWU EMMANUEL C. INS/H2003/007
Presented To
Department of Insurance
ABSTRACT
The research was aimed at finding the problems encountered by intermediaries in the Nigerian Insurance industry and their future prospects. Electronic mails were sent to brokerage firms. Questionnaires were also sent to Manager / Directors. The research showed that these people nearly made similar problem facing them. It was observed that some insurance companies have not got qualified and experience people in handling the work of the intermediaries. On the part of agents, most of them had elementary education. The research revealed that ineffective publicity of insurance brings poor image to the company. Also greater percentage of people does not know what insurance is all about. They only go to place where they make their earnings. And with few questionnaires shared, people prefer direct contact rather than going through the insurance brokers or agents.
The study will be of immense value to brokerage firm, the insurance companies, the general public and to student of insurance and other related fields.
The research was aimed at finding the problems encountered by intermediaries in the Nigerian Insurance industry and their future prospects. Electronic mails were sent to brokerage firms. Questionnaires were also sent to Manager / Directors. The research showed that these people nearly made similar problem facing them. It was observed that some insurance companies have not got qualified and experience people in handling the work of the intermediaries. On the part of agents, most of them had elementary education. The research revealed that ineffective publicity of insurance brings poor image to the company. Also greater percentage of people does not know what insurance is all about. They only go to place where they make their earnings. And with few questionnaires shared, people prefer direct contact rather than going through the insurance brokers or agents.
The study will be of immense value to brokerage firm, the insurance companies, the general public and to student of insurance and other related fields.
TABLE OF CONTENTS
Title Page
Approval Page
Dedication
Abstract
Table of Contents
CHAPTER ONE
1.0 Introduction
1.1 Background of Study
1.2 Statement of Problem
1.3 Objective of Study
1.4 Significance of the Study
1.5 Scope and Limitation of Study
1.6 Definition of Terms
1.7 References
CHAPTER TWO
2.0 Review of the Related Literature
2.1 Definition of Intermediaries
2.2.1 Insurance Broker
2.2.2 Insurance Agent
2.3 The Effect of People’s Ignorance to the Intermediaries and Insurance Industry
2.4 The Effect of Political Instability to Insurance Industry
2.5 The Effect of Insurance Company at Unsuitable Area to Intermediaries
2.6 The Effect of Poor Image of Intermediaries
2.7 Task of Intermediaries
CHAPTER THREE
3.0 Research Methodology
3.1 Research Design
3.2 Sources of Data
3.3 Method of Data Collection
3.4 Sample Size
3.5 Validity and Reliability of Instrument
3.6 References
CHAPTER FOUR
4.0 Data Presentation and Analysis
CHAPTER FIVE
5.0 Summary of Findings, Conclusion and Recommendation
5.1 Summary of Findings
5.2 Recommendation
5.3 Conclusion
Bibliography
Title Page
Approval Page
Dedication
Abstract
Table of Contents
CHAPTER ONE
1.0 Introduction
1.1 Background of Study
1.2 Statement of Problem
1.3 Objective of Study
1.4 Significance of the Study
1.5 Scope and Limitation of Study
1.6 Definition of Terms
1.7 References
CHAPTER TWO
2.0 Review of the Related Literature
2.1 Definition of Intermediaries
2.2.1 Insurance Broker
2.2.2 Insurance Agent
2.3 The Effect of People’s Ignorance to the Intermediaries and Insurance Industry
2.4 The Effect of Political Instability to Insurance Industry
2.5 The Effect of Insurance Company at Unsuitable Area to Intermediaries
2.6 The Effect of Poor Image of Intermediaries
2.7 Task of Intermediaries
CHAPTER THREE
3.0 Research Methodology
3.1 Research Design
3.2 Sources of Data
3.3 Method of Data Collection
3.4 Sample Size
3.5 Validity and Reliability of Instrument
3.6 References
CHAPTER FOUR
4.0 Data Presentation and Analysis
CHAPTER FIVE
5.0 Summary of Findings, Conclusion and Recommendation
5.1 Summary of Findings
5.2 Recommendation
5.3 Conclusion
Bibliography
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