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Service Quality Measurement And Demand For Insurance: An Empirical Study From Nigerian Insurance Industry

Author

Listed:
  • Abass, OlufemiAdebowale

    (Lagos State University, Ojo)

  • Oyetayo Yeside Abiodun

    (Lagos State University, Ojo)

Abstract

Insurance provides financial protection to the insured, though; its acceptance by Nigerian insuring public is still low. This can sharply be traced to low awareness of insurance service. More importantly, quality of service to the few who embraced it had been low. Therefore, insuring public perceives insurance service as defective because customers’ expectations are not met. The objective of this research is to find out whether application of service quality measurement will drive demand for insurance products. Hypothesis was tested to find out whether SERVQUAL measurement is not significantly related to demand for insurance products in Nigeria. The study adopts descriptive research design; hypothesis was tested using regression analysis. The study reveals that there is a significant relationship between application of SERVQUAL measurement and demand for insurance. It is recommended that insurance companies operating in Nigeria should adopt SERVQUAL measurement which will further increase customer retention and loyalty.

Suggested Citation

  • Abass, OlufemiAdebowale & Oyetayo Yeside Abiodun, 2016. "Service Quality Measurement And Demand For Insurance: An Empirical Study From Nigerian Insurance Industry," Management and Marketing Journal, University of Craiova, Faculty of Economics and Business Administration, vol. 0(2), pages 321-335, November.
    • Handle: RePEc:aio:manmar:v:xiv:y:2016:i:2:p:321-335
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    References listed on IDEAS

    as
    1. Feyen, Erik & Lester, Rodney & Rocha, Roberto, 2011. "What drives the development of the insurance sector ? an empirical analysis based on a panel of developed and developing countries," Policy Research Working Paper Series 5572, The World Bank.
    2. Henri de Castries, 2005. "Capital Adequacy and Risk Management in Insurance," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 30(1), pages 47-51, January.
    3. A.K. Sharma & Satish Kumar, 2011. "Effect of Working Capital Management on Firm Profitability," Global Business Review, International Management Institute, vol. 12(1), pages 159-173, February.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Insurance; service; service quality; demand for insurance and service quality measurement;
    All these keywords.

    JEL classification:

    • M30 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Marketing and Advertising - - - General
    • M31 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Marketing and Advertising - - - Marketing

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