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JOURNAL OF MARKETING DEVELOPMENT AND COMPETITIVENESS
Brokers and Control of Adverse Selection (Pre-contractual Opportunism) in
the Nigerian Insurance Market
Author(s): Tajudeen Olalekan Yusuf
Citation: Tajudeen Olalekan Yusuf, (2012) "Brokers and Control of Adverse Selection (Pre-contractual Opportunism) in the Nigerian Insurance Market," Journal of Marketing Development and Competitiveness, Vol. 6, Iss. 4, pp. 126 - 136
Article Type: Research paper
Publisher: North American Business Press
Abstract:
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.
