CHAPTER ONE  

INTRODUCTION

1.1            BACK GROUND OF THE STUDY The determinant of every marking is the ability of the producer to provide for the consumers the quantity and quality of the goods that will satisfy them at affordable prize, provided at accessible places. In event to provide these goods, the producer should consider the consumer as a “king “because with out the consumer the producer cannot be in business. Insurance market consist of buyers intermediate and sellers of insurance polities, individual as well as corporate organization have different attitudes of individuals and corporate organization towards insurance is greatly influenced by consumers attitude, Apparently the attitude of a client towards the sole of insurance services is a function of two broad group of factors namely. The controllable and uncontrollable frees. The controllable factors are bordering mainly on the usual marketing mix, comprises the element of insurance marketing, namely product planning, prizing, distribution channel, advertising and sales promotion. The uncontrollable forces are social economic, technological psychological political and legal forces, outside the direct cannot of insurance, some social risk also contribute for the need of insurance, there are theft, burglary and house breaking, arson, has progressed tremendously during the century especially in period of inflation. As a result of introduction of new business or diversification of business which brings about increase in value and produce line. Insurance contract in Nigeria has progressed tremendously during as far as insurance is concerned, Nigerians are easily spurred into action only when they hear that an insurable disaster has befallen on someone or the other, in recent time, there has been proliferation of social clubs, more of these clubs guarantee the payment of fixed sum of money to the dependants of a deceased member, experience has shown that these clubs make the said payment with reasonable dispaten on the death of a member, on the other hand insurance payment condition stresses the satisfaction of certain legal requirement and hence the payment for some time. Level of literacy is still low in Nigeria, this in itself couples with low per capital level of income also account for the low rate entering into insurance contract. Get the Complete Project Material Now!!!