Close window

ATTITUDES OF NIGERIANS TOWARDS INSURANCE SERVICES: AN EMPIRICAL STUDY

Tajudeen Olalekan Yusuf

University of Lagos, Akoka, Nigeria.

 

Ayantunji Gbadamosi

University of East London, UK

 

Dallah Hamadu

University of Lagos, Akoka, Nigeria.

ABSTRACT

This paper describes Nigerians attitudes towards the insurance institution. The attitudes, most often negative, are mirrored through low patronage of insurance services. It discusses such social-cultural factors that account for these attitudes and what role marketing strategies can play to change such negative tide. Drawing from theoretical foundation, an empirical survey was conducted among 392 members of the public—insuring and non-insuring—to gauge their awareness level and general attitudes towards insurance companies and their operations. The findings present different demographical factors and their attitudes towards insurance companies and their services. It is expected that findings from such survey would constitute vital input for insurers in designing marketing strategies that would further stimulate and boost patronage and perception of insurance services.

Key words: insurance, attitude, Nigeria, demography, marketing, strategies