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ABSTRACT
The study examined “Making Insurance Count: The Roles of Students in Tertiary Institution”. To achieve this, it was guided by the following objectives: To understand the concept of insurance, ascertain the importance of insurance in tertiary institution, know the role students play in promoting insurance in the various schools, know the problems of marketing insurance in Ken Saro Wiwa polytechnic and outside the schools, know the way forward in convincing non-insurance students about the importance of insurance. The study employed the descriptive and explanatory design, questionnaire in addition to library research were applied inorder to collect data. Primary and secondary data sources were used and data was analyzed using the chi-square statistical tool at 5% level of significance which was presented in frequency tables and percentages. The respondents under the study were some individual (management, insurance and non-insurance students). The study majorly focuses on the role of insurance in tertiary institution. The study findings revealed that the role played by insurance students in the institution creates awareness in institutions about insurance. Based on the findings from the study efforts should be made to make insurance paramount in tertiary institutions.
TABLE OF CONTENT
TITLE PAGE ……………………………………………………………………………………………………………….i
DEDICATION ii
CERTIFICATION iii
ACKNOWLEDGEMENT iv
ABSTRACT v
TABLE OF CONTENT vi
CHAPTER ONE 1
INTRODUCTION 1
1.1 BACKGROUND OF THE STUDY 1
1.2 STATEMENT OF PROBLEM 3
1.3 OBJECTIVE OF THE STUDY 3
1.4 RESEARCH QUESTIONS 4
1.5 SCOPE OF THE STUDY 4
1.6 RESEARCH METHODOLOGY 4
1.7 SIGNIFICANCE OF STUDY 5
1.8 SCOPE OF THE STUDY 5
1.9 DEFINITION OF TERMS 6
REFERENCES 7
CHAPTER TWO 8
REVIEW OF RELATED LITERATURE 8
2.0 INTRODUCTION 8
2.1 THE MEANING /CONCEPTS OF INSURANCE 9
2.2 IMPACT OF INSURANCE TO TERTIARY INSTITUTION 13
2.3 THE ROLE OF MANAGEMENT IN MAKING INSURANCE COUNT IN TERTIARY INSTITUTION. 14
2.4 THE PERCEPTION OF NON INSURANCE STUDENTS IN TERTIARY INSTITUTIONS 17
2.5 MAKING INSURANCE COUNT: THE ROLE OF INSURANCE STUDENTS IN TERTIARY INSTITUTIONS 19
2.6 THE IMPORTANCE OF INSURANCE IN THE DEVELOPMENT OF TERTIARY INSTITUTIONS. 21
2.7 THE PROBLEMS OF MARKETING INSURANCE IN TERTIARY INSTITUTIONS 23
2.8 THE FUTURE PROSPECTS OF INSURANCE IN THE DEVELOPMENT OF TERTIARY INSTITUTION 24
REFERENCES 26
CHAPTTER THREE 27
RESEARCH METHODOLOGY 27
3.1 INTRODUCTION 27
3.2 RESEARCH DESIGN 28
3.3 POPULATIONOF THE STUDY 28
3.4 SOURCE OF DATA 28
3.5 DATA COLLECTED METHODS 29
3.6 RESEARCH INSTRUMENT…………………………………………………………………………………30
3.7 STATISTICAL TECHNIQUES FOR DATA ANALYSIS………………………………………………30
REFERENCES 31
CHAPTER FOUR 32
4.0 DATA PRESENTATION AND ANALYSIS 32
4.1 INTRODUCTION 32
4.2 DATA PRESENTATION 33
4.3 DATA ANALYSIS 36
REFERENCES 41
CHAPTER FIVE 42
DISCUSSION OF FINDINGS, SUMMARY, CONCLUSION AND RECOMMENDATION 42
5.1 DISCUSSION OF FINDING 42
5.2 SUMMARY OF FINDINGS 44
5.3 LIMITATION OF METHODOLOGY 44
5.4 CONCLUSION 45
5.5 RECOMMENDATIONS 46
BIBLIOGRAPHY 47
APPENDIX 1 49
APPENDIX II 50
APPENDIX III 52
CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND OF THE STUDY
Insurance industry is a very vital aspect of Nigeria economy and its important roles cannot be emphasized. In the project work the researcher want to identity the history of insurance industry in Nigeria economy and also the actual roles and the importance of insurance industry to the common man and the society at the large. Such roles and importance include in every sectorof the economy:aviation, like the banking sector, agricultural sector, sector, business sector and even educational sector (tertiary). Also the project work, is focused institution and all the necessary measures that can be used to improve the Nigeria insurance up to the world standard.
After, the Second World War, Nigeria experienced a lot of improvement and after the introduction of workers compensation act 1940 and the road traffic act 1945 which came into force on 1st April 1, 1950. This was after when Nigeria got her independent there was a rapid increase in insurance industry and some of the foreign companies were bought over as indigenous insurance companies. As Nigeria insurance industry increase. It was discovered that the industry were operated by some in experience people, and led to problem and the government arrested the situation by appointing Dr. Karlreichel in October 1999 a virgule nations expert is the most far reaching action of government, geared at improving insurance business in Nigeria and the establishment of the national insurance corporation of Nigeria (NICON) in July 1969. In June 1990, the post of the suprelulendant and deputy supper intendance was created.
During the era of president Olusegunobansajo launched the National Health Insurance Scheme (NHIS) on the 29th may, 2005. The present stage has thus exhibited the features of the “take of phase’, the market is greatly boosted by legislative provision for compulsory insurance, set owned by industries that the industrial map of the company again with indirect effect of boosting the insurance business new legislation is passed with a view to indulgencing the insurance industry and providing a strong financial base for the companies and ensuring a high standard of insurance practice in Nigeria.
1.2 STATEMENT OF PROBLEM
In this section, the researcher is focused on the prevalence problem that has led to not making insurance count in Tertiary Institutionusing ken Saro Wiwa polytechnic as a case study. This problems militating against the making insurance count in schools ay be seen as a result of non-insurance student’s perception about insurance in the polytechnic.
1.3 OBJECTIVE OF THE STUDY
The objectives that made the researcher to go into the topic as follows:
- To understand the concept of insurance.
- To ascertain the importance of insurance intertiary institution.
- To know the role students play in promoting insurance in the various schools.
- To know the problems of marketing insurance in Ken Saro Wiwa polytechnic and outside the schools.
- To know the way forward in convincing non-insurance students about the importance of insurance.
1.4 RESEARCH QUESTIONS
The following questions shall be used in the course of the research study.
- What are the importance of insurance to the tertiary institutions
- Is there difficulty in making insurance count in tertiary institution?
- What is the perception of non-insurance students?
- What roles do management and students play to promote insurance in tertiary institutions?
1.5 SCOPE OF THE STUDY
This research work carried out in different institutions. However, it is believed and hoped that the result of this work may be applied with advantage to other tertiary institutions in and outside the country.
1.6 RESEARCH METHODOLOGY
H0: Studentshave no significant roles in making insurance count
H0I: Studentshave no significant role in making insurance count.
H02: There is no impact of insurance in tertiary institution
H02: There is impact of insurance in tertiary institution
1.7 SIGNIFICANCE OF STUDY
This study is meant to highlight the importance and roles of insurance in tertiary institution insurance not only help in reducing the burden on the public but reducing claims fluctuation. The study will be beneficial to the students (student and non-student of insurance), the management of schools. In tertiary institutions across the country who have the quest for more knowledge. In promoting insurance it will also serve as a frame work for scholars and student who is researching into similar topics the study is also intended to provide a yard stick of various organization who may be interested on the subject matter making insurance count.
1.8 SCOPE OF THE STUDY
The scope of this study is not limited to only insurance students but also non insurance students.
1.9 DEFINITION OF TERMS
Tertiary: this refers to order rank of importance that is tertiary education.
Institution: a large important organization that has a particular purpose.
Student: a person who is studying at a university or other place of higher education.
Perception: the ability to see, hear, or become aware of something through the senses.
Insurers: a person or company that undermost an insurance risk: the party in an insurance contract undertaking to pay compensation.
Insured: a person, group or organization whose life or property is covered by an insurance policy.
Insurance: a system where an insurance company upon the receipt of a certain amount of money from a person agrees to pay compensation or render certain services to that person, if and whenever that person suffers the kind of loss that was specified in the insurance agreement.
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