Impact Of Poor Claims Settlement On The Demand For Insurance

CHAPTER ONE INTRODUCTION 1.1    Background of the Study Insurance is usually an intangible product for clients until they receive a payment for an insured loss. The claims experience can therefore significantly influence the client’s understanding of and satisfaction with insurance. A positive claims experience may result in a long-term client and champion of the insurance programme. A negative experience, on the other hand, can lead to mistrust and policy termination. Claims settlement is therefore an integral part of an insurer’s efforts to provide good customer service and to retain clients…