THE ATTITUDE OF CONSUMES BEHAVIOR TOWARDS INSURANCE CONTRACT IN NIGERIA (A STUDY OF ANAMBRA STATE)
ABSTRACT :
This project is divided into different stages for ease of references and simplification of analysis who goes as follows. The attitude of consumers behavoiur towards insurance contract in Nigeria, the background of the study which states the different problems that brought about consumers attitude towards insurance contract in Nigeria provided that the producer should consider the consumer as king because without the consumer, the producer can not be in business in insurance market. I conclude that the producer should provide for the consumer the quantity and quality of the goods that will safety them at affordable price and finally I recommended that the insurance companies should try to maintain a standard and adequate claim statement system so that consumers will be satisfied one more and charge their negative attitude towards insurance product.
TABLE OF CONTENTS
CHAPTER ONE
1.0 INTRODUCTION 1
1.1 Background of the Study 1
1.2 Statement of Problems 3
1.3 Objective of the Study 4
1.4 Research Questions 5
1.5 Significance of the Study 5
1.6 Scope and Limitation of the Study 7
1.7 Definition of Terms 8
CHAPTER TWO
2.0 REVIEW OF THE RELATED LITERATURE 10
2.1 Overview 10
2.2 The Insurance Market 13
2.3 Classes of Insurance Contract 16
2.4 Factors Affecting the Insurance Market 19
2.5 Consumer Attitude towards Insurance Contract 22
2.6 Buyers/Consumers Behaviours 32
2.7 Claims Record 34
2.8 Constraints of Marketing Insurance Product 36
2.9 Problems of Marketing Insurance in Nigeria 37
2.10 Odds in Marketing Insurance Products 40
2.11 Legal and Retaliatory Constraints 44
CHAPTER THREE
3.0 RESEARCH METHODOLOGY 47
3.1 Sources of Data 47
3.2 Population of the Study 48
3.3 Sample Size 48
3.4 The Questionnaire 49
3.5 Reliability of the Instrument 50
3.6 Validity of the Instrument 50
CHAPTER FOUR
4.0 SUMMARY OF FINDINGS AND DISCUSSION 51
4.1 Summary of Findings 51
4.2 Discussion of Findings 52
CHAPTER FIVE
5.0 CONCLUSION AND RECOMMENDATION 54
5.1 Conclusion 54
5.2 Recommendations 55
Bibliography 58
Appendix I 59
Appendix II 60
CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND OF THE STUDY
The determinate of every market is the ability of the producer to provide for the consumer the quantity and quality of the goods that will safety them at affordable prizes, provided to provide these gods, the producer should consider the consume as a “king” because with out the consumer, the producer cannot be in business insurance market consists of buyers intermediates and sellers of insurance policies, individuals as well as corporate organization have different attitude to insurance is greatly influence by consumers attitude.
Apparently the attitude of a client towards the sale of insurance services is a function of two broad group factors namely the controllable and uncontrollable forces.
The controllable factors are bordering mainly on the usual marketing mix, comprises the element of insurance marketing, namely product planning, prizing, distribution channels, advertising and sales promotion. Th uncontrollable forces are social, economic, technological psychological, political and legal forces, outside the direct control of the insurance some social risk also contribute for the need of insurance, there are theft, burglary and house breaking, arson, strikes etc.
