THE IMPACT OF PROPER UNDERWRITING IN PROMOTING INSURANCE IMAGE IN NIGERIA

THE IMPACT OF PROPER UNDERWRITING IN PROMOTING INSURANCE IMAGE IN NIGERIA

ABSTRACT

Insurance companies are legal entities that cover the insured against certain unexpected occurrence of an event in exchange for payment of a predetermined amount of money called premium. In underwriting insured risks insurance companies do accepts risks that have different risk profile but the acceptance of those risks are under different conditions which they face a lot of challenges in carrying out these activities because of low modern technology and facilities, lack of professionals in underwriting department which brought to foe low confidence on the insured. This study therefore is exploratory study to determine the impact of proper underwriting in promoting insurance image in Nigeria. The population of the study comprises both underwriters and insured of Niger insurance plc Enugu. Both primary and secondary data were collected. The data was analyzed by the use of chi-square statistical method. The study came out that for proper underwriting in promoting insurance image, the insurance need to establish rules which will result in securing an average proportion of good risk. It was recommended that the underwriters should be exceptionally in the selection of their applications they should not be too glad in receiving premium but too reluctant in meeting their claims.

TABLE OF CONTENTS

Title Page

Abstracts

Table of Contents

CHAPTER ONE:

INTRODUCTION

1.1        Background of study

1.2        Statement of Problems

1.3        Objective of the Study

1.4        Research Questions

1.5        Research Hypothesis

1.6        Significant of the study

1.7        Scope and Limitation of the study

1.8        Definition of the Terms

References

CHAPTER TWO

Literature Review

2.1        An overview

2.2        Historical Development of Niger insurance plc

2.3        Historical Development of Underwriting

2.4        Traditional Underwriting Practice

2.5        How underwriters assess risk in insurance industry

2.6        The Impact of underwriting on the Nigeria economy

2.7        The effect of improper underwriting on the insurance industry

2.8        Problems facing underwriters in assessment of risk

2.9        Prospect of proper Underwriting and Management`

References

CHAPTER THREE

Research  Design and Methodology

3.1    An Overview

3.2    Sources of Data

3.3    Population of Study

3.4    Sampling Size Determination

3.5    Questionnaire Administration

3.6    Method of Data Analysis

3.7    Validity and Reliability of Instrument

References

CHAPTER FOUR

Data Presentation, Analysis and Discussion Of Findings

4.1    An Overview

4.2        Data Presentation

4.3        Data Presentation

4.4        Testing of Hypothesis

4.5        Discussion of Findings

CHAPTER FIVE

Summary of Finding, Conclusion and Recommendation

5.1        Summary of Findings

5.2        Conclusions

5.3    Recommendations

5.4    Suggestions for Further Studies

THE IMPACT OF PROPER UNDERWRITING IN PROMOTING INSURANCE IMAGE IN NIGERIA