Insurance business was introduced into Ethiopia based on mutual assistances and its modern form traces back to 1905, when bank of Abyssinia began to underwrite fire and marine insurance policy, as an agent to foreign insurance company. The general objective of the study was to analysis the insurance services in the Nile Insurance Company by giving special attention focusing on life insurance. Primary data were collected using a structured questionnaire. In addition, secondary data were extracted from relevant sources to supplement the data obtained from the survey.
The result of this study reveals that gross written premium and net written premium showed on increasing trend. But there is an ups and down of the percentage change because of unhealthy completion between non private and other private insurance companies. Secondly even if there are new classes of life insurance that was sold in Nile Insurance Company, the structure of life insurance in terms of diversification of the source of revenues is limited to small classes of the business. The amount of the premium collected and claims paid in these classes of the insurance is not proportionally distributed.
The end result of the data also shows that there is a direct correlation between premium collections and the claim payments i.e. the classes of life insurance which contributes the large amount of also incur higher claims (cost).
Inhaltsverzeichnis (Table of Contents)
- Chapter One: Introduction
- Background
- Scope of the study
- Statement of the problem
- Objectives of the study
- Significance of the study
- Organization of the study
- Chapter Two: Literature Review
- Theory of Insurance
- Types of Life Insurance
- Ordinary life insurance
- Industrial Life Insurance
- Group Life Insurance
- Credit Life Insurance
- Supplementary Benefits (Riders)
- Accidental Death Benefit (ADB)
- Accidental Death and Dismemberment (AD&D)
- Comprehensive Accidental Indemnities (CAI)
- Accelerated Death Benefit
- Health Insurance Rider
- Underwriting
- Sources of Underwriting Information
- Chapter Three: Methodology of the study
- Data sources
- Analysis of data
- Chapter Four: Data Presentation and Analysis
- The Structure and Trend of Life Insurance
- The Structure of Life Insurance Business in Terms of Market Share
- The Performance of life Insurance in NIC in Term of sources of Revenue/Premium
- The Trend of Gross Written Premium in Life Insurance
- The Trends of the Life Fund and Underwriting Performance
- The Structure of Life Insurance in Terms of Cost or Claims Incurred
- Performance Analysis of Life Insurance by Different Cost Ratio Mechanism
- Factors that affects the growth of life insurance
- Factors that affect the demand life insurance
- Factors That Affect Supply of Life Insurance
- Human Resource Development in NIC
- Chapter Five: Conclusion and Recommendations
- Conclusions
- Recommendations
Zielsetzung und Themenschwerpunkte (Objectives and Key Themes)
This paper aims to analyze the life insurance business of the Nile Insurance Company (NIC) in Ethiopia. It examines various aspects of the company's operations, performance, and the factors influencing its growth. The study utilizes financial data and relevant documents to provide a comprehensive assessment.
- Structure and trends of life insurance business in NIC.
- Performance analysis of life insurance using different cost ratio mechanisms.
- Factors affecting the demand and supply of life insurance in the NIC context.
- Human resource development within NIC.
- Review of relevant life insurance theories and types.
Zusammenfassung der Kapitel (Chapter Summaries)
Chapter One: Introduction: This introductory chapter sets the stage for the analysis of life insurance at the Nile Insurance Company. It establishes the background of the study, defining the scope and outlining the research problem. The objectives and significance of the study are clearly stated, highlighting the importance of understanding the life insurance sector in Ethiopia. Finally, it details the organization of the research paper, providing a roadmap for the reader.
Chapter Two: Literature Review: This chapter provides a theoretical foundation for the study, exploring the general theory of insurance and detailing various types of life insurance policies, such as ordinary life, industrial life, group life, and credit life insurance. It also delves into supplementary benefits (riders), including accidental death benefits, accidental death and dismemberment coverage, comprehensive accidental indemnities, and accelerated death benefits. The crucial concept of underwriting and its information sources are also discussed, laying the groundwork for understanding the risk assessment practices of NIC.
Chapter Three: Methodology of the study: This chapter explains the research methodology employed in the study. It details the sources of data used, which are likely financial records and documents from NIC, and describes the methods of data analysis used to interpret the gathered information. This section is crucial for understanding the scientific rigor and validity of the research findings presented in subsequent chapters.
Chapter Four: Data Presentation and Analysis: This chapter presents and analyzes data related to the structure and trends of the life insurance business at NIC. It examines market share, revenue from different life insurance classes, and the growth of gross written premiums. Key performance indicators are analyzed, including the trends of the life fund and underwriting performance, and cost structures are examined. The chapter likely explores factors influencing the growth of life insurance, considering both demand-side and supply-side factors. Finally, it addresses human resource development within NIC, connecting it to the overall performance and sustainability of the company.
Schlüsselwörter (Keywords)
Life insurance, Nile Insurance Company, Ethiopia, insurance theory, underwriting, financial performance, market share, cost ratios, human resource development, demand, supply, premium growth.
Frequently Asked Questions: Analysis of Life Insurance at the Nile Insurance Company (NIC) in Ethiopia
What is the overall purpose of this document?
This document provides a comprehensive preview of a research paper analyzing the life insurance business of the Nile Insurance Company (NIC) in Ethiopia. It includes a table of contents, objectives and key themes, chapter summaries, and keywords. The information is presented to allow for academic analysis of the themes within the study.
What topics are covered in the research paper?
The research paper examines various aspects of NIC's life insurance operations, including the structure and trends of its business, performance analysis using different cost ratio mechanisms, factors affecting the demand and supply of life insurance, human resource development within NIC, and a review of relevant life insurance theories and types.
What is included in the "Table of Contents"?
The table of contents outlines the following chapters: Chapter One (Introduction), Chapter Two (Literature Review), Chapter Three (Methodology), Chapter Four (Data Presentation and Analysis), and Chapter Five (Conclusion and Recommendations). Each chapter is further divided into sub-sections focusing on specific aspects of life insurance at NIC.
What are the key objectives and themes of the study?
The main objectives are to analyze the structure and trends of NIC's life insurance business, perform a detailed performance analysis, identify factors influencing life insurance demand and supply within NIC's context, examine human resource development within the company, and provide a theoretical review of life insurance.
What is covered in Chapter Two: Literature Review?
Chapter Two provides a theoretical foundation by exploring the general theory of insurance, different types of life insurance policies (ordinary, industrial, group, credit), supplementary benefits (riders), underwriting, and sources of underwriting information.
What methodology is used in the study (Chapter Three)?
Chapter Three details the research methodology, including the data sources (likely financial records and documents from NIC) and the methods of data analysis used to interpret the collected information.
What kind of data analysis is presented in Chapter Four?
Chapter Four presents and analyzes data on the structure and trends of NIC's life insurance business. This includes analysis of market share, revenue, growth of gross written premiums, key performance indicators, cost structures, and factors influencing life insurance growth (both demand and supply side). It also addresses human resource development within NIC.
What are the key conclusions and recommendations (Chapter Five)?
Chapter Five summarizes the research findings and presents recommendations based on the analysis of NIC's life insurance business. Specific conclusions and recommendations are not detailed in the preview.
What are the keywords associated with this research?
The keywords are: Life insurance, Nile Insurance Company, Ethiopia, insurance theory, underwriting, financial performance, market share, cost ratios, human resource development, demand, supply, and premium growth.
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- Urgessa Tilahun (Autor:in), 2008, Analysis of Life Insurance, München, GRIN Verlag, https://www.grin.com/document/279374
