CHAPTER ONE

INTRODUCTION  

1.8     Background of the Study

There are number of projects written a marketing of insurance service in universal banking environment. But as far as know, a comprehensive work has never been written from that aspect of identifying these problem an marketing these insurance service challenges and making ways to find prospect of suggest possible solution to the general public. The insurer the insured and the insurance industry at large.

The insurance industry has a critical role to play in economic development of the country. It is in recognition of this fact that the federal government granted approvals for the establishment of more insurance companies. Therefore insurance business has grown by leaf and bounds since 1960 when the nation achieved their independence. Insurance has been promoted by the Nigeria public in cooperation with reputable foreign technical partner. This is good for the economy and it is as reflection of confidence, which both foreign and indigenous enterprises have in the Nigeria economy.

We would live toe proceed to the topic to be discussed “marking insurance services in the universal banking environment, problems, prospects and challenges” the problem definitely is a serious one, poor market strategies used in the marking of this services have lead to poor level of sales turnout in recent years.

Having marketing problem is not a new thing; they are as old as the industry itself. However, in recent times, the rate and frequency of which the come up has been a course of great concern to Nigeria because some banks lose millions of naira in various areas of transaction yearly. Despite the effects of chief inspector the insurers