Customer Satisfaction of Life Assurance Products: Claims Management Strategies Angle

This study examines how claims management strategies influence customer satisfaction in life assurance products. The research focuses on key aspects such as customer loyalty, retention, repurchasing intention, and lifetime value. The study surveyed 350 consumers of term life insurance products, selected using stratified sampling and Taro Yamane's formula. Data were analyzed using descriptive statistics and a t-test. Findings indicate that efficient claims management significantly enhances customer satisfaction, fostering trust and longterm engagement. The study recommends that government agencies collaborate with the Nigerian insurance industry to improve claims handling and reduce fraudulent claims, ultimately strengthening customer confidence in life assurance products.