IMPACT OF ICT ON INSURANCE BROKING IN NIGERIA

Abstract

Information Communication Technology is playing a vital role in insurance broking in the Nigerian insurance industry. This study examined the use of this technology in driving insurance broking in Nigeria. The main aim of the study is to access how modern IT like Insurtech and Fintech could be used in insurance broking operations in the country. The simple research design was adopted for the study with a total of 100 insurance brokers were randomly selected for the study. The analysis of the collected primary data showed that majority of the respondents believed that the level of information communication technology awareness among insurance broking firms in Lagos State was low and as such there was low level of acceptance of information communication technology among board members of some insurance broking firms in Lagos State. The analysed data also showed that there was significant relationship between the adoption of information communication technology awareness and efficiency of insurance broking in Lagos State