THE IMPACT OF INSURANCE COMPANIES IN THE DEVELOPMENT OF AN ECONOMY. A RESEARCH PROJECT MATERIAL ON BANKING AND FINANCE
The research work conducted in the project topic title “The Impact of insurance Companies in Economic Development of an Economy”, has achieved the objectives of carrying out the study, which are:-
To establish the impact of the insurance companies have made and likely to make in future, the growth and stability of the nations economy and also areas where the insurance industry has failed in its noble objectives and make recommendation for improvements for better services of the industry.
It has looked into the impact of insurance service to developing economy of Nigeria . And also the contributions of insurance services to the buyer of insurance products or its benefits to the purchases of these produce such as life assurance product motor insurance, Fire insurance, Marine, accretion. Insurance plays a significant role in gross domestic products through its financing of investment in Nigerian Companies.
The project writing was implemented using both primary and secondary sources. The primary consisted the Questionnaire prepared and distributed to the insuring public. Oral interviews and personal observation (Field Surveys) were also use during the research work.
While, secondary data was based on review of some related books, Journals and newspapers.
Response from the questionnaires collected was analyzed using random sampling techniques and frequency tables.
Finding was emerged based on the analysis ands recombination was provided.
Finally, at the end of the research work, I was able to active the aim of knowing the impact of insurance Companies in economic development.
Insurance is a complex Subject that involves the people who are willing and able to have the service.
The objectives of this research work is to establish the impact the insurance Companies has made and likely to make in future, the growth and stability of the nations economy and also areas where the insurance industry has failed in its noble objective and make recommendation for improvement of better services of the industry.
It will also look into the impact of insurance Service to developing economy of Nigeria. The Research will also look into the contributions of Insurance services to the buyer of insurance products or its benefits to the purchase of these product such as life Assurance product, motor insurance, fire insurance, Marine, Acration.
Insurance plays a significant role in gross domestic product through its financing of investment in Nigerian Companies.
The project will rely on both primary and Secondary Sources. The primary data will consists of prepared closed ended questionnaires to be distributed to insuring public.
It will also make use of oral interviews and personal Observation. (Field Surveys).