EFFECT OF INSURANCE MANAGEMENT INFORMATION SYSTEM ON DEEPENING INSURANCE SERVICES IN NIGERIA

Abstract

This study was conducted to examine the effect of insurance management information system on deepening insurance services in Nigeria. The researcher employed the use of survey research design in which primary data was obtained through questionnaire administration. Data for this study was obtained from both primary and secondary sources. Primary data was obtained through a structured questionnaire. The questions were closed-ended, and directed to collect relevant data from the staff of insurance companies. Secondary sources were information from existing literatures such as relevant textbooks, journals and periodicals, and library source. The researcher employed tables and simple percentage method to analyse the research questions. However, the regression technique was used to test hypotheses. The finding was that there is a significant effect of the application of transaction processing system on deepening of insurance services in Nigeria. There is a significant influence of the use of decision support system on deepening of insurance services in Nigeria. There is a significant influence of the adoption of office automation system on deepening of insurance services in Nigeria. There is a significant effect of expert system by insurance firms on deepening of insurance services in Nigeria. There is a significant influence of personal/work group information system on deepening of insurance services in Nigeria. There are significant joint effects of transaction processing system, decision support system, office automation system and personal/work group information system on the deepening of insurance services in Nigeria. It was concluded that there is positive and significant effect of insurance management information system on deepening insurance services in Nigeria. Recommendations were that Insurance companies operating in Nigeria should adopt a transaction processing system-based application for efficient service delivery. There is need for the use of Decision Support System (DSS) in the Nigerian insurance industry. Insurance companies need to upgrade their Office Automation Systems. Insurance firms in Nigeria should create their Expert System database. Personal/Work Group Information System should be promoted by insurance firms in Nigeria. Synergy in the adoption of MIS should be created for effective and efficient service delivery and by extension deepening insurance services.