Image of Insurance Industry in Society in Ethiopia
: This paper attempts to assess the image of insurance industry in society through a sample of 109 customers of insurance companies operating in Debre Birhan and Addis Ababa Metropolis. The study was a cross-sectional survey that used self-administered structured questionnaire to the target populat...
| Main Authors: | , , , |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
Srusti Academy of Management
2018-12-01
|
| Series: | Srusti Management Review |
| Subjects: | |
| Online Access: | http://www.srustimanagementreview.ac.in/paperfile/896899_1.%20Image%20of%20Insurance%20Industry%20in%20Society%20in%20Ethiopia.pdf |
| _version_ | 1818388656873799680 |
|---|---|
| author | Girma Zeleke Amogne Mamaw Abebaw Fisseha Dr. N. Robindro Singh |
| author_facet | Girma Zeleke Amogne Mamaw Abebaw Fisseha Dr. N. Robindro Singh |
| author_sort | Girma Zeleke |
| collection | DOAJ |
| description | : This paper attempts to assess the image of insurance industry in society through a sample of 109 customers of insurance companies operating in Debre Birhan and Addis Ababa Metropolis. The study was a cross-sectional survey that used self-administered structured questionnaire to the
target population, both customers and staff of insurance companies in Ethiopia. The responses obtained from the data collection were cross tabulated and subjected to descriptive analysis. The study
revealed that insurance companies find it difficult to settle claim payment and subject customers to long processing period, high premium and unsatisfactory performance. Besides, unethical practices
increased the rate of dissatisfaction. In addition, lack of insurance culture, awareness and attitude of our people contributed to their poor image subsequently leading to low patronage by the public. These insurance companies however collect their premium promptly. In an effort to repositioning the industry for effective and efficient performance, the paper proposes from the public relative perspective a number of strategies such as prompt and accurate claims payment, automation of operation,
good customer relationship management, and the good code of ethics as strategies for repositioning the insurance industry in Ethiopia. |
| first_indexed | 2024-12-14T04:29:19Z |
| format | Article |
| id | doaj.art-d6e9a30df2424e90a9868f981e43810f |
| institution | Directory Open Access Journal |
| issn | 0974-4274 2582-1148 |
| language | English |
| last_indexed | 2024-12-14T04:29:19Z |
| publishDate | 2018-12-01 |
| publisher | Srusti Academy of Management |
| record_format | Article |
| series | Srusti Management Review |
| spelling | doaj.art-d6e9a30df2424e90a9868f981e43810f2022-12-21T23:17:07ZengSrusti Academy of ManagementSrusti Management Review0974-42742582-11482018-12-01XIIII19Image of Insurance Industry in Society in EthiopiaGirma Zeleke0Amogne Mamaw1Abebaw Fisseha2Dr. N. Robindro Singh3Accounting and Finance Department, College of Business and Economics, Debre Berhan Univerity, Ethiopia, Email: girma.zeleke23@gmail.comAccounting and Finance Department, College of Business and Economics, Debre Berhan University, EthiopiaAccounting and Finance Department, College of Business and Economics, Debre Berhan University, Ethiopia, Email: abebawfisseha@gmail.comAccounting and Finance Department, College of Business and Economics, Debre Birhan University, Ethiopia, Email: drrobindrosingh@gmail.com: This paper attempts to assess the image of insurance industry in society through a sample of 109 customers of insurance companies operating in Debre Birhan and Addis Ababa Metropolis. The study was a cross-sectional survey that used self-administered structured questionnaire to the target population, both customers and staff of insurance companies in Ethiopia. The responses obtained from the data collection were cross tabulated and subjected to descriptive analysis. The study revealed that insurance companies find it difficult to settle claim payment and subject customers to long processing period, high premium and unsatisfactory performance. Besides, unethical practices increased the rate of dissatisfaction. In addition, lack of insurance culture, awareness and attitude of our people contributed to their poor image subsequently leading to low patronage by the public. These insurance companies however collect their premium promptly. In an effort to repositioning the industry for effective and efficient performance, the paper proposes from the public relative perspective a number of strategies such as prompt and accurate claims payment, automation of operation, good customer relationship management, and the good code of ethics as strategies for repositioning the insurance industry in Ethiopia.http://www.srustimanagementreview.ac.in/paperfile/896899_1.%20Image%20of%20Insurance%20Industry%20in%20Society%20in%20Ethiopia.pdfinsuranceimageclaimculture |
| spellingShingle | Girma Zeleke Amogne Mamaw Abebaw Fisseha Dr. N. Robindro Singh Image of Insurance Industry in Society in Ethiopia Srusti Management Review insurance image claim culture |
| title | Image of Insurance Industry in Society in Ethiopia |
| title_full | Image of Insurance Industry in Society in Ethiopia |
| title_fullStr | Image of Insurance Industry in Society in Ethiopia |
| title_full_unstemmed | Image of Insurance Industry in Society in Ethiopia |
| title_short | Image of Insurance Industry in Society in Ethiopia |
| title_sort | image of insurance industry in society in ethiopia |
| topic | insurance image claim culture |
| url | http://www.srustimanagementreview.ac.in/paperfile/896899_1.%20Image%20of%20Insurance%20Industry%20in%20Society%20in%20Ethiopia.pdf |
| work_keys_str_mv | AT girmazeleke imageofinsuranceindustryinsocietyinethiopia AT amognemamaw imageofinsuranceindustryinsocietyinethiopia AT abebawfisseha imageofinsuranceindustryinsocietyinethiopia AT drnrobindrosingh imageofinsuranceindustryinsocietyinethiopia |