Claims Management and Its Determinants in Nigeria

Abstract

The management of insurance claims has left many insureds wondering whether insurers will ever keep their promises. It has been argued that the management of claims impacts the insured’s trust and satisfaction. The main objective is to understand how claims management practices shape policyholders’ trust and satisfaction. The study employed a survey method and used a questionnaire to gather research data. The formulated hypotheses were tested with regression analysis. The study's findings show that claim documentation practices do not affect claims management. However, claims adjustment influences the efficiency of claims management, and claims payment timeliness impacts insureds’ satisfaction. Recommendations were made. The paper recommends that claim management should be simple and customer centric. Furthermore, while it is important to re-evaluate and critique the process, timeliness and efficiency in claim processing should be the watchword.