Insurance Industry and Public Relation: the Need for Strategy Review

INSURANCE INDUSTRY AND PUBLIC RELATION: THE NEED FOR system REVIEW By Sunday S. Akpan Department of Banking, Finance and redress University of Uyo, Uyo, Akwa Ibom State Nigeria Abstract. This paper investigates the Nigerian Insurance industry from the perspective of public relations. This investigation becomes imperative promptly that all efforts are geared toward restructuring virtually e actually arena of the rescue for sustainable growth and development. The insurance industry has suffered vile image problem and subsequently low patronage by the public. In an effort to repositioning the industry for effective and in force(p) performance the paper proposes from the public relative perspective a number of strategies such as prompt and accurate claims payment, automation of operation, aggressive and creative marketing of insurance products, good node relationship management (CRM), simplified language of policies, the people issues, break away cable control and reporting, and the good code of ethics as strategies for repositioning the insurance industry in Nigeria. Introduction The Nigerian economy is made up of m each sectors. These include the petroleum sector, the fiscal sector, agricultural sector, education, power, communication, aviation sectors etc.

Insurance industry is one of the sub-sectors in the financial sector of the economy that has played a circumstantial role toward the growth and development of the Nigerian economy as a whole. The Nigerian insurance industry has suffered what experts called image problem. Until very recently, many did not perceive insurance business as a crucial financial service mainly because the grease ones palms of insurance service does not involve the exchange of any physical product (Babington-Ashaye, 2009). Although it is intangible, insurance is a crucial business service that creates and adds value. It lubricates the oil of business by being the peril bearer. Its importance is better appreciated when disaster of... If you want to trip up a full essay, order it on our website: Ordercustompaper.com

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