Brokers and Control of Adverse Selection (Pre-contractual Opportunism) in the Nigerian Insurance Market

Insurance opportunism at the pre-contractual stage go largely under-studied. This article explores the effectiveness of the insurance brokers' information gathering role at this stage to control adverse selection in the Nigerian insurance market. It also set to examine stakeholders' pressu...

Full description

Saved in:
Bibliographic Details
Published in:Journal of marketing development and competitiveness 2012-10, Vol.6 (4), p.1
Main Author: Yusuf, Tajudeen Olalekan
Format: Article
Language:English
Subjects:
Adverse selection
Asymmetry
Brokers
Customers
Effectiveness
Insurance agents & brokers
Insurance fraud
Insurance industry
Insurance policies
Insurance premiums
Studies
Online Access:Get full text
Tags: Add Tag
No Tags, Be the first to tag this record!
Description
Summary:Insurance opportunism at the pre-contractual stage go largely under-studied. This article explores the effectiveness of the insurance brokers' information gathering role at this stage to control adverse selection in the Nigerian insurance market. It also set to examine stakeholders' pressure effect on the brokers to control insurance opportunism. Although, semi-structured face-to-face interviews constituted the primary method of data collection, other methods were used as supplements. The findings suggest that this role, to a great extent, is performed creditably well in the Nigerian market. Expectedly, this has reinforced the theoretical framework that the insurance brokers enhance the competitiveness and efficiency of the insurance market through the resolution of adverse selection. [PUBLICATION ABSTRACT]
ISSN:2155-2843
2155-2843