The challenges of product development in the growth and development of micro insurance business in Nigeria is a commercial complex, which is based on four chapter, while the underwriter should study the need of product developments and micro insurance in the entire environment and design the product (policies cover) that will help the insurance industry.

TABLE OF CONTENTS

TITLE PAGE

Title Page i

Certification ii

Dedication iii

Acknowledgment iv

Table of Contents v-ix

CHAPTER ONE

1.0 Introduction 1

1.1 Background of the Study 8

1.2 Statement of Research Problem 12

1.3 Research Questions 12

1.4 Objective of the Study 13

1.5 Hypotheses 14

1.6 Scope of the Study 15

1.7 The Limitation of the Study 16

1.8 Operational Details of Terms 16

CHAPTER TWO

2.0 Literature Review 20

2.1 Characteristic of micro insurance 20

2.2 Differences between conventional insurance and micro 

insurance conventional insurance 21 

2.3 Product development/new product development 22

2.4 Type of polices offer by or under micro insurance 25

2.5 Process of micro insurance product development 30

2.6 Challenges of new product development 37

2.7 Challenges of micro insurance 38

2.8 Nature of cost and price in relation to micro insurance 42

2.9 Micro insurance product development for micro finance provider 45

2.10 Low demand of micro insurance 47

2.11 Strategic issues in the development of micro insurance product 50

2.12 Other strategies evolved for implementation of the micro 

insurance programme 59

CHAPTER THREE

Research Methodology 65

Research Design 65

Primary Source of Data 65

Secondary Sources of Data 66

Sample Selection 66

Method of Data Collection 66

Data Analysis Techniques 67

Data Used 67

CHAPTER FOUR

Data Analysis and Interpretation 68

4.1 Presentation of Data 68-83

4.2 Test of Hypothesis 84-88

CHAPTER FIVE

5.0 Summary, Conclusion and Recommendation 89

5.1 Summary 89

5.2 Conclusion 89

5.3 Recommendation 90-91

Bibliography 92-94 

Questionnaire 95-97