Insurance is a dynamic world with cut-throat competition among the insurers. Each insurer is
constantly trying to get more customers to buy their products while trying to keep their costs
to a minimum. However, since there is no singular factor that affects the demand for
insurance in a country, a major factor that the insurers have control over is the claim
settlement ratio. With better and faster claim settlement, it is assumed that customers will be
more satisfied and thus more likely to buy and recommend the insurance products, thus …

The study examined the impact of poor claims settlement on the demand for insurance. The
area of the study was Nigeria. The specific objectives of the study were to examine the
significance of life insurance claims settlement on demand for insurance in Nigeria; to
assess the significance of fire insurance claims settlement on demand for insurance in
Nigeria; and to evaluate the significance of oil and gas insurance claims settlement on
demand for insurance in Nigeria. An ex-post facto research design was used in the study …