Claims Management and Firm Performance of Insurance Companies in Nigeria: Moderating Effect of Marketing Factors
Journal Title: Journal of Economics, Finance and Management Studies - Year 2023, Vol 6, Issue 06
Abstract
The study aims to analyse the effect of claims management on firm performance of insurance companies through marketing factors. The data was collected from 776 of management, senior and junior (frontline) staff of selected Insurance companies in Lagos State using a questionnaire as a data collection tool. This research uses a quantitative approach with a survey method. Respondents were selected from the the 20 registered insurance companies across composite, general and life Insurance businesses in Lagos State through a stratified ransom sampling technique. The collected data were analysed using hierarchical regression analysis (HRA) to test hypothesis and evaluates the regression model specified. The collected data were analysed using hierarchical regression analysis (HRA) to test hypothesis and evaluates the regression model specified. The findings indicates that marketing factors significantly moderated the effect of claims management practices on firm performance of selected Insurance Companies (β = -0.009, R2∆ = 0.002; F∆ = 17.928, p < 0.05). The study concludes that marketing factors moderated the effect of claims management practices on firm performance of selected Insurance Companies in Lagos State. The study therefore recommends that the management of selected insurance companies in Lagos State focus on creating a positive marketing factor that bolsters claims management practices to achieve a sustainable performance in the industry. This may involve developing marketing policies and training that encourage employee involvement, job satisfaction, and a positive working environment.
Authors and Affiliations
Banmore, O. O. , Adefulu, A. D. , Makinde, G. O.
Keywords
Related Articles
- EP ID EP727193
- DOI 10.47191/jefms/v6-i6-67
- Views 15
- Downloads 0
The Role of Leadership and Organizational Culture Toward The Engagement of Millenial Employees Through Job Satisfaction at Pt Mory Industries Indonesia
This study aims to determine the effect of leadership roles and organizational culture on millennial generation employee engagement simultaneously, determine the influence of leadership roles on millennial generation emp...
Public Investment for Health in Vietnam: The Current State and Policy Recommendations
The latest Vietnamese health system is being steadily renewed and strengthened in the direction of equality- efficiency-development and social security. Over past years, the health sector has been involved in investing i...
FDI and the Triangle “Growth, Inequality and Poverty” in North Africa
The economic literature has shown that the effect of FDI on poverty through these instruments has undergone radical changes which reflect, on the one hand, the growing progress, made by the academic community, in the ver...
Facilitating Economic Growth by Leveraging on Infrastructure Development
To achieve most of the United Nations’ Sustainable Development Goals (SDGs) such as the elimination of poverty and hunger, the establishment of good health and well-being, provision of quality education, creation of dece...
Cross-Cultural Management
Globalization has made global changes, and a rapid increase of multinational corporations which has resulted in creating more businesses that have more culturally diverse workforce. Cultural diversity affects the perform...