DEVELOPING COOPERATIVE INSURANCE IN NIGERIA: PROBLEMS AND PROSPECTS

Format: MS WORD  |  Chapter: 1-5  |  Pages: 75  |  22 Users found this project useful  |  Price ₦3,000

GET THE COMPLETE PROJECT

DEVELOPING COOPERATIVE INSURANCE IN NIGERIA: PROBLEMS AND PROSPECTS

 

ABSTRACT

This study looks into the problems and future prospects of Insurance Co-operative in Nigeria. A survey was conducted in this country to obtain field information on the view of participants in developing co-operative insurance in Nigeria.In making research, it was discovered that Insurance Co-operative has been faced with some major problems like lack of qualified professionals in insurance co-operative. This suggests that with improved training of personnel and other services, insurance cooperative in Nigeria has a bright future.

 

CHAPTER ONE

INTRODUCTION

The economic framework of the country is not properly structured to effectively make like comfortable for all members of the society. Furthermore, life and property are procured and thus has rationally called for more sophisticated approaches to insurance for adequate safeguard against the threatening dangers of life and property. As a means of providing socio-economic security to individuals, number of clubs are springing up, for instance, the rotary clubs, the social clubs, philanthropic organizations and co-operative societies, unfortunately, the activities of these organizations as defined in their objectives are divergent and have only made a feeble important on the overall goal of the nation; in what direction? No research in the insurance industry today could be more responsive to the yearning of the people of this country than a study on the possibility of developing a functional co-operative insurance in Nigeria. This is more so as individuals are already involved in co-operative ventures through social clubs, co-operative societies and philanthropic associations, which lay a latent foundation for developing of co-operative insurance.

The introduction into these associations is to cement their divergent objectives into one united force capable of achieving lofty ideas of better life for a greater number of people. These happened when the resources of individuals are fooled together for management and self security which is the noble function of co-operative insurance. Given the absence of well developed social security system in Nigeria, it is important that attempts should be made to promote insurance consciousness among the majority of the population. In particular, insurance co-operative could move into areas of importance to co-operative movement. Co-operative insurance is not only important for developing of domestic insurance market but also has a vital role to play to the overall development process. Development of co-operative insurance naturally calls for harmonization of the principles of co-operative with those of insurance. The effective management of the differing identities of these components determines the workability of thee various forms of co-operative insurance.

1.2  STATEMENT OF THE PROBLEMS

One of the key problems of co-operative management is how to balance the short-term interest of group entity. In other rods, the problem is how to maximize the promotional service of members or customers without neglecting to build a sound financial basis for the co-operative enterprises.COOPERATIVE INSURANCE Another problem is how to balance the desire for member participation in the decision making and the requirement of every business organization to have decision made with expertise and without delay.COOPERATIVE INSURANCE Again is developing co-operative insurance the probable form of the entity in view of the co-operative principles regarding distribution of surplus and societal awareness about co-operatives is called to question. The issue therefore is to determine the organization forms which co-operative insurance can take in the country.COOPERATIVE INSURANCE The study derives form another’s philosophies and ideologies about co-operative insurance terms of following. Nature of Economic: Harmony of principles of insurance as that of co-operative insurance organization and its approaches. All these have been viewed also with reports to the Nigeria situation. Naturally constraints inherent in the various situations are highlighted.COOPERATIVE INSURANCE

1.3  PURPOSE OF THE STUDY

The purpose of this study is defined in its immediate aims and objectives rather than its ultimate goal. The goal which is long term, namely the creation of effective insurance co-operative in Nigeria cannot be realize in the work. This study therefore attempts to work into insurance and co-operative activities in this country in order to establish the following facts. Whether insurance co-operative is being carried on in Nigeria on a scale suitable for the economic development of the country and for the welfare of the citizens. Whether there is room for further development of insurance co-operative in Nigeria in view of preventing socio-economic and political problems and constrict. If there is room for future development of insurance co-operative, how a sound one can be organized.

1.4  IMPORTANCE OF THE STUDY

Co-operative and insurance are two district business formular whose respective objectives diverge on the need of entrepreneurs, in strict response to the fundamental principles of co-operative and insurance. A harmonious correlation of the principles of insurance and those of co-operative is a very important aspect of the study. The study therefore, examined the possible affinity of fundamental principles of insurance and of co-operations in business within the confines of Nigerian business law within this evaluation of the performance of existing co-operative insurance business could be carried out and a meaningful research into future prospects for insurance co-operatives significantly enhanced. It is of interest to note that so far no word has been carried out with regard to extensive analysis of the impact of the existing co-operative insurance organization.

1.5  SCOPE AND LIMITATIONS

Owing to the management practice of the existing co-operative insurance company namely. The national co-operative insurance society. It has not been possible to collect much of necessary information for the study. Furthermore, there has been virtually no conceptual literature in the area of study.

GET THE COMPLETE PROJECT

Not What You Are Looking For?



For QUICK Help Call Us Now!

+234 813 292 6373


Here's what our amazing customers are saying

JONNAH EHIS
Ajayi Crowther University, Oyo
I was scared at first when I saw your website but I decided to risk my last 3k and surprisingly I got my complete project in my email box instantly. This is so nice!!!
Excellent
MATTHEW NGBEDE
Ahmadu Bello University
I wish I knew you guys when I wrote my first degree project, it took so much time and effort then. Now, with just a click of a button, I got my complete project in less than 15 minutes. You guys are too amazing!
Excellent
Temitayo Ayodele
Obafemi Awolowo University
My friend told me about iprojectmaster website, I doubted her until I saw her download her full project instantly, I tried mine too and got it instantly, right now, am telling everyone in my school about iprojectmaster.com, no one has to suffer any more writing their project. Thank you for making life easy for me and my fellow students... Keep up the good work
Very Good
Stancy M
Abia State University, Uturu
I did not see my project topic on your website so I decided to call your customer care number, the attention I got was epic! I got help from the beginning to the end of my project in just 3 days, they even taught me how to defend my project and I got a 'B' at the end. Thank you so much iprojectmaster, infact, I owe my graduating well today to you guys...
Excellent
Ibrahim Muhammad Muhammad
Usmanu danfodiyo university, sokoto
It's a site that give researcher student's to gain access work,easier,affordable and understandable. I appreciate the iproject master teams for making my project work fast and available .I will surely,recommend this site to my friends.thanks a lot..!
Excellent
Dau Mohammed Kabiru
Kaduna State College of Education Gidan Waya
This is my first time..Your service is superb. But because I was pressed for time, I became jittery when I did not receive feedbackd. I will do more business with you and I will recommend you to my friends. Thank you.
Very Good
Joseph M. Yohanna
Thanks a lot, am really grateful and will surely tell my friends about your website.
Excellent
Merry From BSU
I am now a graduate because of iprojectmaster.com, God Bless you guys for me.
Excellent
Samuel From Ajayi Crowther University
You guys just made life easier for students. Thanks alot iprojectmaster.com
Excellent
Musa From Ahmadu Bello University
Thank you iprojectmaster for saving my life, please keep it up and may God continue to bless you people.
Excellent

HOW TO GET YOUR COMPLETE PROJECT INSTANTLY

  • Select 3 Project Topics of your choice from your Department.
  • Submit the 3 topics to your Supervisor for Approval.
  • Call Our Instant Help Desk on 0813-292-6373 and Get Your Complete Project Material Instantly.
  • All project materials on this website are well researched by professionals with high level of professionalism.

FREQUENTLY ASKED QUESTIONS

How do i choose a Project Topic?

Look for your department and select any topic of your choice

I have a fresh topic that is not on your website. How do I go about it?

How fast can i get a complete project from your website?

Within 15 minutes if the exact project topic is on our website

Is it a complete research project or just materials?

It is a Complete Research Project i.e Chapters 1-5, Abstract, Table of Contents, Full References, Questionnaires / Secondary Data

One of your topics suites my project, but the case study is different. What do i do?

Call Our Instant Help Desk Now: (+234) 813-292-6373 and you will be responded to immediately

How do i get my complete project?

Your Complete Project Material will be sent to your Email Address in Ms Word document format

Can I get my Complete Project through WhatsApp?

Yes! We can send your Complete Research Project to your WhatsApp Number

What if my Project Supervisor made some changes to a topic i picked from your website?

Call Our Instant Help Desk Now: (+234) 813-292-6373 and you will be responded to immediately

Do you assist students with Assignment and Project Proposal?

Yes! Call Our Instant Help Desk Now: (+234) 813-292-6373 and you will be responded to immediately

What if i do not have any project topic idea at all?

Smiles! We've Got You Covered. Chat with us on WhatsApp Now to Get Instant Help: (+234) 813-292-6373

How can i trust this site?

We are well aware of fraudulent activities that have been happening on the internet. It is regrettable, but hopefully declining. However, we wish to reinstate to our esteemed clients that we are genuine and duly registered with the Corporate Affairs Commission as "PRIMEDGE TECHNOLOGY". This site runs on Secure Sockets Layer (SSL), therefore all transactions on this site are HIGHLY secure and safe!