THE EFFECT OF CLAIM SETTLEMENT ON PROFIT MAXIMIZATION IN THE INSURANCE INDUSTRIES

ABSTRACT

This project work has critically highlighted the compact of claims settlements on profit maximization in insurance industry, the problems affecting effective claims settlement in Nigeria have been identified and how they can be controlled is also included in the study.

Also circumstances given rise to claims, fraudulent claims and effect of inflation on claims settlement have been discussed and ways to solve them are inductive in the study.

This study also examines the lapses and recommends some viable point (s) that can also contribute to the image of the industry.

In conclusion, for effective claims settlement to arise, the insurer and the insured must agree as to the actual amount to be paid in the event of claims taking into consideration the principles and the risk guiding the handling of insurance claims.

TABLE OF CONTENT

Title page

Approval page

Dedication

Acknowledgement

Abstract

Table of contents

CHAPTER ONE

1.0Introduction

1.1 Background of the study.

1.2 Statement of problem

1.3 Purpose of the study

1.4 Significance of the study

1.5 Limitation of the study

CHAPTER TWO

2.0The Review Of Related Literature

2.1 Classes of insurance

2.2 Principles of insurance

2.3 Notification of claims

2.4 Investigation of claims

2.5 Circumstances given rise to claims

2.6 Claims report

2.7 Claim settlement under individual

2.8 The problems affecting effective claims settlement.

CHAPTER THREE

3.0Research Design And Methodology

3.1 Source of Data

3.2 Location of Data

3.3 Method of Data collection

CHAPTER FOUR

4.0Findings

CHAPTER FIVE

5.0Recommendation And Conclusion

5.1 Conclusion

5.2 Recommendation.

BIBLIOGRAPHY

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APA

Research, A. (2018). THE EFFECT OF CLAIM SETTLEMENT ON PROFIT MAXIMIZATION IN THE INSURANCE INDUSTRIES. Afribary. Retrieved from https://afribary.com/index.php/works/the-effect-of-claim-settlement-on-profit-maximization-in-the-insurance-industries

MLA 8th

Research, Afri "THE EFFECT OF CLAIM SETTLEMENT ON PROFIT MAXIMIZATION IN THE INSURANCE INDUSTRIES" Afribary. Afribary, 03 Feb. 2018, https://afribary.com/index.php/works/the-effect-of-claim-settlement-on-profit-maximization-in-the-insurance-industries. Accessed 21 Aug. 2025.

MLA7

Research, Afri . "THE EFFECT OF CLAIM SETTLEMENT ON PROFIT MAXIMIZATION IN THE INSURANCE INDUSTRIES". Afribary, Afribary, 03 Feb. 2018. Web. 21 Aug. 2025. < https://afribary.com/index.php/works/the-effect-of-claim-settlement-on-profit-maximization-in-the-insurance-industries >.

Chicago

Research, Afri . "THE EFFECT OF CLAIM SETTLEMENT ON PROFIT MAXIMIZATION IN THE INSURANCE INDUSTRIES" Afribary (2018). Accessed August 21, 2025. https://afribary.com/index.php/works/the-effect-of-claim-settlement-on-profit-maximization-in-the-insurance-industries

THE EFFECT OF CLAIM SETTLEMENT ON PROFIT MAXIMIZATION IN THE INSURANCE INDUSTRIES

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