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REVIEW OF LITERATURE
2.1INTRODUCTION
The world is undergoing a resolution in information and communication Technology which is
referred to as the digital resolution. The revolution is already transforming social and economic
life and is moving at near lighting speed. The electronic based are used to collect, store, process
and package information and access to knowledge. The industry electronic publishing
information service broadcasting and management information system. The telecommunication
Technology allows information to interact with other as well as remote device in networks
thereby permitting users to access database and communication with other users over long
distance. The conveyance of ICT and telecommunication Techn010U has this greatly enhanced
the existing service industries. It has increased the productivity quality and efficient of business
management administration education and health core service. Insurance being an integral and
vital of the economy has necessarily contributed to the growth of the Nigeria economy and as the
system of government it is likely challenges which must be properly handled facilitate the
technological development of the the nation at large. The application of to face some in orders to
industry and information, communication device in insurance industries has strandline and
increased the efficiency of production life cycle and adding that the product were faster made
with minimal defect constraints production life cycle were assured manpower cost were
minimized and redundancy was eliminated and services will be delivered effectively. Bill gate,
the visionary chief executive and co-founder of Microsoft Corporation, predict the use of
technology and we must take seriously in the insurance industry. These days you electronically
market your product directly with seller and such the role of traditional intermediaries maybe
reduced or even eliminated. These intermediaries will perform the function that includes;
matching buyers with sellers, providing product information, System and marketing information
to sellers, Integrating the components of consumer process, managing physical deliveries and
insuring the integrity of the market.
business.
negligence or failure to perform professional duties. It insurance firms also covers errors and
omissions that result in loss of client data, system failure, claims of non-performance or careless
overselling of service. Information technology works in diverse ways in insurance. The provision
of information technology services includes computer consultancy, data base management,
hardware networking, web design and development and internet service. Companies providing
internet service can also be subject to substantial claims resulting from allegations of copyright
and trade mark infringement or the effect of computer viruses. However it is important to note
that most information Technology liability policies are written on claims made basis. This
means that you must have an insurance policy in place at the time a claim is made against you,
rather than the time a claim is made against you, rather than the time alleged act, error or
omission is committed. Therefore, the policy in place at the time a claim is made against you is
the policy that unreasoned to that clam, rather than a policy in place at the time of the alleged act,
error
or
omission.
(Wilson
Intisar,
2010).
iii.
iv.
and this depends on types of printer and font (writing styles) used.
Storage: Document can be stored for future use
Graphics: It designs charts, tables and diagrams Mathematics Functions: Billions of
mathematical corrupt can be carried out with a second.
become virtually impossible for must insurance companies to operation effectively and
efficiently without the adoption and use if ICTS.
2.2.5 BENEFITS OF INFORMATION AND COMMUNICATION
TECHNOLOGY TO THE INSURANCE COMPANY
Information Technology provides companies with the ability to process large amounts of
information and do so in a way which presents the information in a clear and concise manner
to employees anticipation benefits of implementing an information technology system include
improvement in productivity better profit performance and a higher degree of accuracy among
information which the form the ability to share information arnong employees is also enhanced.
Computers have become smaller over the decades and now personal computers are often linked
together. across wide geographic areas to create network. These networks provides additional
benefits to organizational performance, such as data and integrity and enhanced productivity by
using a broadband networks users can share a greater range of voice, data and video services,
including video conferencing software has kept up with advancement in hardware so that today's
office productivity packages make it easy to create multimedia 'document' which can be sent
across an internet network, or the internet. Productivity typically improves in organizations
which implement information technology, although there can be some less of productivity during
the "learning curve" Data integrity is greater when companies take advantage of the benefits that
information technology offers and displaced employees can often be relocated to the MIS
department (which now typically has a greater demand for workers).
The benefits of information technology to the insurance industry can be summarizing as follows.
(i) Accuracy
(ii). Elimination of drudgery
(iii) Speed
(iv) Electronic saving of office space
(v) Enhanced communication
(vi) Email
(vii) Convenience
(viii) It enables one on one marketing
(ix) Accessibility
2.2.6 PROCEDURE USED TO SUPPLY PROBLEMS SOLVING
INFORMATION IN INSURANCE INDUSTRY
The purpose of programming analysis is to breakdown the system specification into the very
detailed arithmetic and logic operation required in solving the problem. In the viewed of Oni
and Olaleye (2012) two common tools used for analysis purpose in the insurance sector are the
program flour chart and the decision table. The procedure that is generally used to make it
possible for computers in insurance industry to supply problems solving information involves the
following;
(i) Program preparation
(ii) Program-r debugging and testing
(iii) Problem analysis
(iv) Program documentation and maintenance
(v) Conversion of instruction into machine sensible form
(vi) Definition of the problems and objectives.
2.2.7
i.
ii.
iii.
channeled to any productive use such mobilized savings constitute an important source of
iv.
v.
vi.
ii.
easily.
Claims department: Computer can ensure the administrative efficiency of the claim
iii.
iv.
efficient and simple manner. Through the systems location, independent interface of the
company which can efficiently handle greater volumes of operations and smoothly manage work
processes across a will range of offices in Nigeria. The software package also provides users
with advanced real time reports and statistics in the form of charts chagrin and management dash
boards to analyses operational performance and support the decision making process.
2.2.10. PROSPECT OF TECHNOLOGY ON INSURANCE OPERATION
As at now, the use of technological products in insurance operation is not fully effective in
Nigeria. Only few insurance companies with their branches fully utilize it. The industry rated as
well as deterring the premium payable. So, with information techn010U, all needed information
will be easy to retrieve as well as when claim arises, all needed information as regards the
subject matter of insurance will be retrieved easily.
2.2.11 LIMITATION OF TECHNOLOGY
The limitation of information technology can be found in various ways and they are;
i.
Redundancy: High level of unemployment causes many social problems. Also, the world
ii.
demand for goods and services is declining, so fewer people are satisfied.
Social unrest: The end result of redundancy which stemmed from computerization is
iii.
social unrest, which flows from lack of financial and material resources.
Unemployment: The primary stemming from the application in insurance industry is the
increasing level; of Information Techn010U controlled unemployment. administrative
activities which supersedes the old working material. This, the use of ICT leads to
reduction in the numbers of manpower, because they could not use a computer system
effectively.
Poor infrastructure facilities to support system connection which can be:
Power failure
Lack of spare parts.
2.3 CURRENT LITERATURE BASED ON RELEVANT VARIABLE OF THE MODEL Aluko
(2011) discussed in his book titled "Insurance and Technology" that with the use of
technology, I am optimistic that the insurance sector in Nigeria and Africa is becoming
more competitive. They are therefore customer focused. Leveraging on their technology and
services as the local partner to derive patronage from industry operations. Fisher and kenny
(2012) suggest that organization infuse information system into their operation so as to
enhance
competitiveness
and
facilitate
business
growth
and
success.
Also, Lauden and Lauden (2010) believe that information system are embedded in
organization and are the result of standard operating procedure workflow, organizational
culture and structure. Although organizations have different information needs they all
strive for competitive advantage through continuous, improvement. Falegan (2011) Nigeria
insurance industry has passed through three distinguishable, phase, the initial open door,
was roughly between 1900 and 1960. The transitional phase which conceded with the first
national development plan period was between 1962 and 1969 and the take off phase
CURRENT LITERATURE BASED ON RELEVANT VARIABLE OF THE MODEL
Aluko (2011) discussed in his book titled "Insurance and Technology" that with the use of
technology, I am optimistic that the insurance sector in Nigeria and Africa is becoming
more competitive. They are therefore customer focused. Leveraging on their technology and
services as the local partner to derive patronage from industry operations. Fisher and kenny
(2012) suggest that organization infuse information system into their operation so as to
enhance competitiveness and facilitate business growth and success. Also, Lauden and
Lauden (2010) believe that information system are embedded in organization and are the
result of standard operating procedure workflow, organizational culture and structure.
Although organizations have different information needs they all strive for competitive
advantage
through
Lagos Smart Enterprise Industry. Falegan (2010). "Computing Evaluation of ICT Penetration in
in Nigeria". Journal, /org. Vol Insurance Industry Fisher, B., Kenny, (2012). "Information System
and Insurance
Business in Nigeria". Transeampus org/ 10 Dec. 2012. Jimoh, (2012). "Information System and
Insurance Business in Nigeria". Journal 2012: Olufawo, S. (1999). "Life Assurance Practice in
Nigeria Lagos" Hendnos Ventures. Oni and Olaleye (2012). "View of Programming Insurance
System" Journal/ Vol. 1 (2012).
CHAPTER THREE
RESEARCH METHODOLOGY
3.1 INTRODUCTION
This chapter is directed at examining the effect of information techn010U in the effective
insurance services delivery in Nigeria. The techniques, instruments and procedure used in the
collection and analysis of data were chosen because they
best seem to enhance the investigation and bring out the effect of information technolog in the
effective insurance services delivery in Nigeria.
3.2 RESTATEMENT OF RESEARCH QUESATION
RESEARCH QUESTIONS
Does the use of IT positively affect the performance efficiency of insurance organization
in Nigeria?
Does information technology speeds up delivery in the insurance operations?
is there any significant relationship between information technology and insurance
service delivery?
Does information technology increase customer patronage in insurance industries?
Does technology involvement in insurance service constitute a firm or marketing strateo?
Does public benefit in uses of information technology in delivery insurance services
delivery?
3.3 RESEARCH METHOD AND DESIGN
A research design is a systematic plan to study a scientific problem. It also explains the study
type i.e. descriptive correlation, semi experimental etc. in this study, the sample was drawn using
random sampling method to avoid any element of bias or subjectivity.
However, information will be conducted from representative sample of the population rather than
from every member of the population survey research will be used.
3.4 DATA COLLECTION METHOD
For the purpose of this study, primary and secondary sources of data collections methods are
used. Under primary data, a typical adaptive questionnaire separated into section A and B were
developed through information on the satisfaction derived from the attitudes attached to each
type of the policies plan are gathered from policyholder. The section A contains demographic
employment status, educational level and annual income description while section B is furnished
with the information of life insurance.
The questionnaires were randomly distributed for administered among self employed
and salary each policyholder including both private and public section. Secondary data: these are
data being collected from other agencies or body e.g Journals, library, internet, mass media.
3.5 CHARACTERISTICS OF THE STUDY POPULATION
The population under review entails the staff on managerial grade and to the junior grade. These
group of staff falls within the various segments of Royal Exchange Nigeria PLC Lagos. The
study was free and fair, there was no discrimination regards age, status, sex, single and married,
male and female were considered. The target population their research project is personal from
insurance industry, insuring public non insuring public and non practitioners.
3.6 SAMPLING DESIGN, PROCEDURES AND SIZE
The probability sampling gives equal opportunity to every members of the population to be
selected under this. It is not possible to study the whole population; certain portion of the
population knows as SAMPLE is studied. In this study, using the sample RANDOM
SAMPLING will be most preferable through which generalization about the population are
made.
3.7 DESCRIPTION OF DATA COLLECTION INSTRUMENT
Research instrument refers to the device that the researcher used for collecting data during
instrumentation (that is the process of collecting data). In his study the research instrument-that
will be used is the
REFERENCES
Bisira H.O. et al (2012). "Descriptive Statistics Revised Edition, Ketu Lagos Best Century
Designs"
Fagbohungbe, O.B. (2011). "The Basic of Research Method010U" [3ed]. Somolu Lagos: Kotleb
Publishes.
Faruide D. A. (2010) Descriptive Statistics (Revised Edition), Lagos State Polytechnic Ikorodu
Lagos.
Asikan (2010). Research " Methodology is Behavioural Science" Long man Nigeria Plc, Lagos
Nigeria.
CHAPTER FOUR
DATA ANALYSIS AND PRESENTATION
4.1 INTRODUCTION
This chapter gives clear indication of analysis of responses in the questionnaire which will be
used in testing the formulated hypothesis on the effect of information technology on the effective
insurance service delivery in Nigeria. And ability of understanding of the project statistical tool
such as chi-square and percentage were employed.
The analysis is in two pronged, the first aspect attempts a general data analysis through various
respondents opinion on the subject matter of the research while the other aspect tends to
analyses the various hypothesis propounded to address the subject matter of the research
4.2 RESPONDENT CHARACTERISTICS AND CLASSIFICATION
Response to the questionnaire is used as research instrument and was analyzed with the use of
tables and percentage.
Table 1: analysis of questionnaire administered
Question
Retrieved
Not retrieved
Total
Questionnaire administrative
frequency
112
38
150
percentage
74.66%
25.34%
100%
The above table indicate that 150 research questions were distributed out of which 112
questionnaire were retrieved while 38 questions were not retrieved, which formed basis on which
the research work carried out.
Table 2: Age distribution
Age group
frequency
22-25years
15
26-30years
24
31-40years
30
41 and above
35
Unspecified
6
Total
112
Source: question administration 2014
percentage
13.39%
21.43%
26.79%
31.25%
5.36%
100%
Interpretation: majority of the respondents is (13.39%) were between age 22-25 years followed
by 24 (21.43%) in the years 26-30,(31.25%) and (5.36%) did not specify their age.
sex
frequency
percentage
Male
67
Female
45
Unspecified
Total
112
Source: Questionnaire Administrative 2014
59.82%
40.18%
100%
Interpretation: majority of the respondents is 67 (59.82%) were males, while 45 (40.18%) were
female.
Table 4: Educational Qualification
Educational qualification
frequency
HND
39
BSC
30
PGD
12
OND
15
OTHERS
10
UNSPECIFIED
6
TOTAL
112
Source: Questionnaire administrative 2014
percentage
34:82%
36.75%
10.71%
13.39%
8.93%
5.36%
100%
Interpretation: From the above table 39 (34.82%) respondents had Higher National Diploma
(HND), 30 (26.79%) were Bachelor of Science Degree Holders (PGD) 15 (13.39%) were
Ordinary National Diploma (OND), 10 (8.93%) had other qualifications and 6 (5.36%) did not
specify.
Table 5: Work Experience
Work experience
No of respondents
Below 5 years
37
6-10years
40
11 years and above
35
Total
112
Source: Questionnaire Administration 2014
Percentage
33.04%
33.71%
31.25%
100%
Interpretation: The work experience had by each respondents of the questionnaire are from 5
years work experience which is 37 (33.04%) 6-10 years 40 (35.71%) and 11 and above 35
(31.25%).
TO RESEARCH QUESTIONS
Statement 1
The use of IT positively affect the performance efficiency of insurance organizations in Nigeria.
Table 6:
Option
No of respondent
Agreed
49
Disagreed
3
Strongly disagreed
Undecided
Strongly agreed
60
Total
112
Source: Questionnaire administration 2014
Percentage
43.75%
2.68%
53.57%
100%
Interpretation: From the above table 49 (48.75%) agreed that the use Of IT positively affect the
performance efficiency of insurance organization in Nigeria 2 (2.68%) respondents disagreed,
while 60 (53.57%) strongly agreed.
Statement 2: information technology speeds up delivery in insurance operation.
Table 7
option
No of respondent
option
60
Disagreed
Strongly disagreed
47
Undecided
5
Strongly agreed
Total
112
Source: Questionnaire administration 2014
Percentage
53.57%
41.96%
4.46%
100%
Interpretation: From the above table 60 (53.57%) of the respondents agreed that information
technology speeds up delivery in the insurance operation 47 (41.96%) of the respondents
strongly agreed, 5 (4.46%) undecided.
Statement: 3
There is significant relationship between information technology and insurance delivery.
Tables 8
Option
No of respondent
Agreed
56
Disagreed
Strongly disagreed
52
Undecided
4
Strongly agreed
Total
112
Source: Questionnaire administration 2014
Percentage
50%
46.43%
3.57%
100%
Interpretation: From the above table56 (50%) of the respondents agreed that information
technology speeds up delivery in the insurance operation 52 (46.43%) of the respondents
strongly agreed, 4 (3.57%) undecided.
Statement 4:
Information technology increase customer patronage in an insurance industeies.
Table 9
Option
No of respondent
Agreed
49
Disagreed
Strongly disagreed
63
Undecided
Strongly agreed
Total
112
Source: Questionnaire administration 2014
Percentage
43.75%
56.25%
100%
Interpretation: The table above shows that 49 (43.75%) respondents agreed that the information
technology increase customer patronage in an insurance industry while 63 (56.25%) strongly
agreed.
Statement:5
Technology involvement in insurance service constitute a firm of marketing strategy
Option
No of respondent
Percentage
Agreed
60
53.57%
Disagreed
Strongly disagreed
48
42.86%
Undecided
2
1.78%
Strongly agreed
2
1.78%
Total
112
100%
Source: Questionnaire administration 2014
Interpretation: The above table shows that 60 (53.57%) agreed that technology involvement in
insurance service constitute a firm of marketing strategy, while 48 (42.86%) of the respondents
strongly agreed, 2 (1.78%) strongly disagreed. 2 (1.78%) undecided.
Statement:6
Public benefit in uses of information technology in delivery insurance services.
Table 11
Option
No of respondent
Percentage
Agreed
80
71.43%
Disagreed
2
1.78%
Strongly disagreed
30
26.79%
Undecided
Strongly agreed
Total
112
100%
Source: Questionnaire administration 2014
Interpretation: The table above shows that 80 (71.43%) respondents agreed that the information
technology in delivery insurance service while 2(1.78%) disagreed and 30(26.29%) of the
respondent strongly agreed.
4.4 PRESENTATION AND ANALYSIS OF DATA ACCORDING TO
RESEARCH HYPOTHESES
Testing of hypotheses
Hypothesis one testing
Hi:
Information techn010U does not speed up delivery in the insurance operation.
Hi:
Information technology speeds up delivery in the insurance operation.
s/n
Statement
Sa
SD
Total
47
60
112
Option
47
37.33
9.97
93.51
(O.)2
2.50
60
37.33
22.67
513.93
13.77
5
112
37.33
37.33
32.33
1,045.23
27.20
43.47
O.
(O.)3
Statement
Sa
SD
Total
56
52
112
Option
1
56
37.33
18.67
348.57
(O.)2
7.34
52
37.33
14.67
221.21
5.77
37.33
33.33
1,110.89
29.76
112
O.
(O.)3
44.87
Statement
Information technology
increase customer patronage in
up insurance industry
Option
A
49
D
-
Sa
63
SD
-
O.
(O.)3
Total
112
49
56
49
(O.)2
0.875
63
56
36
0.64
112
Since X2 cal=1.52
U
-
1.52
REFERENCES
Fagbohungbe, O.B. (2002); Research Methods for Nigeria
Tertiary Institutions. Lagos Consultant.
Famuyiwa, L.O. (2001); Introduction of Statistics (Basic Concept
and Application). Lagos Wuwer
CHAPTER FIVE
SUMMARY, CONCLUSION AND REPOMMENDATION
5.1 SUMMARY OF THE FINDINGS
This presentation has been a report, of research on the effect of information technology on
effective insurance service delivery in Nigeria. The meaning of technology device were
explained and also the effect on insurance service delivery % , the prominent view of some
people in the information technology department (IT) were documented. However, the study
found that in most companies, customers find it difficult to perform vital transactions on line
without necessarily being present physically at the companies. This is because many customers
have not bought into idea of the use of as means of reaching their respective insurance
companies. Furthermore, responses from the various companies show further that many
insurance companies have started relating with their customers via IT networks, and have also
encouraged customers by reaching out to them through electronic mails, text messages and the
likes. The study also found that a good number of the insurance companies are of the opinion
that it has aided their performance level.
5.2 CONCLUSION DRAWN FROM THE FINDINGS
This study reveals that Nigerian companies are on the proper path to adopt and effectively use
information technology to improve customers service delivery and this will in turn affect
firm performance positively. As suggested by these findings, companies in Nigeria can better
their customers service delivery process by investing more in information technology, providing
IT training facilities to staff from time-to-time and educating their customers on the need for online transactions to ensure smooth, faster and quality service. All these would lead to increased
profits. Also, the companies need to develop productivity enhancing strategies that will enable
them to successfully integrate the new technologies with their present operations and the
information system units in the sector should be well financed and given adequate maintenance
to ensure adequate flow of information for decision-making and effective service delivery.
lastly, organizations should give their staff adequate training and. proper orientation to ensure the
effective use of information system in the provision and circulation of information for efficient
and effective insurance service delivery.
BIBLOGRAPHY
Mosud, Y.O. (2013): Impact of Information System on Management Decision Making in The
Nigeria Insurance Sector: International Journal of Scientific and Technology Research Vol 2
issue 12, 2013.
Fadun, S.O (2013): Information and Communication Technology (ICT) and Insurance
Companies Profitability in Nigeria. International Journal of Business and Management Invention
vol 2 issue 1, 2013. Adekunle, Tajudeen, A. Sunday, (2013). "The role of Information
Technnology in Customer Service Delivery and Form Performance.
Evidence from Nigeria's Insurance Industry". International Journal of Marketing studies, Vol 5,
No: 4, 2013.
Apampa, O. (2010). 'Evaluation of ICT penetration in selected insurance companies". The Laos
Experience Journal of Emergency Tends in Compulsory and Information science Aluko K.
(2011). "Insurance and Technology" Lagos Smart Enterprise Industry. Falegan (2010).
"Computing Evaluation of ICT Penetration in Insurance Industry in Nigeria". Journal /org. Vol
Fisher, B. , Kenny, (2012). "Information System and Insurance Business in Nigeria".
Transeampus org/ 10 Dec. 2012. Jimoh, (2012). "Information System and insurance Business in
Nigeria". Journal 2012. Olufawo, S. (1999). "Life Assurance Practice in Nigeria Lagos".
Hendnos Ventures. Oni and Olaleye (2012). "View of Programming Insurance System".
Journal/V01. 1 (2012).
Bisira H.O. et al (2012). "Descriptive Statistics Revised Edition, Ketu Lagos Best Century
Designs"
Fagbohungbe, O.B. (2011). Basic of Research Methodology" [3ed]. Somolu Lagos: Kotleb
Publishes.
Faruide D. A. (2010) Descriptive Statistics (Revised Edition), Lagos State Polytechnic Ikorodu
Lagos.
Asikan (2010). Research " Method010U is Behavioural Science" Long man Nigeria Plc, Lagos
Nigeria
Famuyiwa, L.O. (2001); Introduction of Statistics (Basic Conceptand Application). Lagos
Wuwer