Abstract
This project is on comparative analysis of amount of premium paid and claims settled on fire, motor and life policies in Kwara Insurance Broker’s Limited, Ilorin from 1996-2005 was aimed to analysis the trend of insurance in Nigeria as regards to the three policies mentioned above regression analysis and correlation was use to analyse the data. Sequences to the analysis carried out, it revealed that the amount of claims settled does not depend on the amount of premium paid. The life policy which shows that no awareness is being created to prevail its importance. It can be seen from the three policies that there are fluctuations in premium paid. Premium paid has fluctuated over the years in the motor polic. Eventually, the analysis revealed that the amount of premium paid and claims settled on each of the policies are not equal, therefore the premiums paid have highest values. Based on these findings, we recommend to the company that it should encourage its staff to embark on public enlightenment from time to time and there is need to employ the services of qualified statisticians for the planning and predication towards their business, so that the organization will not collapse.
TABLE OF CONTENTS
Title Page i
Certification ii
Dedication iii
Acknowledgments iv
Abstract vi
Table of Contents vii
CHAPTER ONE
1.0 Introduction 1
1.1 Historical Background 3
1.2 Aims and Objectives of the Study 5
1.3 Definition of Terms 5
1.4 Limitations of the Study 7
CHAPTER TWO
2.0 Literature Review 8
2.1 Definition of Insurance 9
CHAPTER THREE
3.0 Methodology 13
3.1 Correlation Analysis 13
3.2 Regression Analysis 14
3.3 Analysis of Variance 21
3.4 Data Presentation 23
3.5 Source of Data collection 24
CHAPTER FOUR
4.0 Analysis of Data 28
4.1 Presentation of Data 28
CHAPTER FIVE
5.0 Summary, Conclusion and Recommendations 48
5.1 Summary 48
5.2 Conclusion 49
5.3 Recommendations 49
References
BOSE, O , OLUSEUN, O , OLAITAN, O & BUSARI, S (2021). Comparative Analysis of Amount of Premuim Paid and Claims Settled on Fire, Life and Motor Policies: A Case of Kwara Insurance Broker Limited, Kwara State. Afribary. Retrieved from https://track.afribary.com/works/comparative-analysis-of-amount-of-premuim-paid-and-claims-settled-on-fire-life-and-motor-policies-a-case-of-kwara-insurance-broker-limited-kwara-state
BOSE, OLATUNDUN et. al. "Comparative Analysis of Amount of Premuim Paid and Claims Settled on Fire, Life and Motor Policies: A Case of Kwara Insurance Broker Limited, Kwara State" Afribary. Afribary, 17 Dec. 2021, https://track.afribary.com/works/comparative-analysis-of-amount-of-premuim-paid-and-claims-settled-on-fire-life-and-motor-policies-a-case-of-kwara-insurance-broker-limited-kwara-state. Accessed 23 Nov. 2024.
BOSE, OLATUNDUN, OLATUNJI OLUSEUN , OLAWOYE OLAITAN and SULAIMAN BUSARI . "Comparative Analysis of Amount of Premuim Paid and Claims Settled on Fire, Life and Motor Policies: A Case of Kwara Insurance Broker Limited, Kwara State". Afribary, Afribary, 17 Dec. 2021. Web. 23 Nov. 2024. < https://track.afribary.com/works/comparative-analysis-of-amount-of-premuim-paid-and-claims-settled-on-fire-life-and-motor-policies-a-case-of-kwara-insurance-broker-limited-kwara-state >.
BOSE, OLATUNDUN , OLUSEUN, OLATUNJI , OLAITAN, OLAWOYE and BUSARI, SULAIMAN . "Comparative Analysis of Amount of Premuim Paid and Claims Settled on Fire, Life and Motor Policies: A Case of Kwara Insurance Broker Limited, Kwara State" Afribary (2021). Accessed November 23, 2024. https://track.afribary.com/works/comparative-analysis-of-amount-of-premuim-paid-and-claims-settled-on-fire-life-and-motor-policies-a-case-of-kwara-insurance-broker-limited-kwara-state