olufemi abass - Academia.edu (original) (raw)
Papers by olufemi abass
Journal of Applied Sciences and Environmental Management, 2021
The focus of this paper is on the development of data mining algorithm for developing of predicti... more The focus of this paper is on the development of data mining algorithm for developing of predictive loan risk model for Nigerian banks. The model classifies and predicts the risk involved in granting loans to customers as either good or bad loan by collecting data based on J48 decision tree, BayesNet and Naïve Bayes algorithms for a period of ten (10) years (2010 2019) from using structured questionnaire. The formulation and simulation of the predictive model were carried out using Waikato Environment for Knowledge Analysis (WEKA) software. The performance of the three algorithms for predicting loan risk was done based on accuracy and error rate metrics. The study revealed that J48 decision tree model is the most efficient of all the three models.
Academic Journal of Economic Studies, 2020
nsurance business model is uniquely different from other financial institutions. This is because ... more nsurance business model is uniquely different from other financial institutions. This is because its operation relies on the projection of expected future risk (claims cost) before risk can be accepted. Hence, performance this role rests on the available underwriting capacity before risk can be assumed. Cumulative underwriting capacity of insurance companies in Nigeria seems weak compared to the quantum of gross premium generated. This is evident in their inability to assume larger unexpected risks especially in energy and aviation market. Therefore, the aim of this study is to examine the impact of joint underwriting capacity variables on the financial performance of non-life insurance companies in Nigeria. The study adopted correlational research design. A census of forty-one (41) non-life insurance companies operating in Nigeria as at December, 2019 were used for the study. The study made use of aggregate annual reports of all the forty-one companies operating in Nigeria over a t...
SSRN Electronic Journal, 2009
The paper explores how the adoption of enterprise risk management (ERM) practices influences exte... more The paper explores how the adoption of enterprise risk management (ERM) practices influences external audit fees in large pharmaceutical firms. The results show that the mere presence of a Chief Risk Officer does not influence external audit fees. However, when we take the different ERM practices into account, we find that firms that heavily rely on ERM report significantly lower external audit fees. This finding is especially relevant, as it indicates that ERM not only creates the conditions for better internal monitoring, but it also facilitates the external auditor’s work leading to lower external audit fees.
Annals of Spiru Haret University Economic Series, Sep 27, 2022
This study is to examine the influence of risk aversion on the adoption and utilization of self-i... more This study is to examine the influence of risk aversion on the adoption and utilization of self-insurance among Small Medium Enterprises (SME) owners in Lagos State. This study employed cross sectional class of survey research design. Three hundred and fifty SME owners were selected using Taro Yamane formula and the data obtained was analyzed using correlation and t-test inferential statistics. Questionnaires were administered through convenience sampling method. The result of the study revealed a significant relationship between risk aversion and self-insurance utilization among SME owners in Lagos State. Additionally, the result of this study also revealed that there is no significant difference between preference for conventional insurance and selfinsurance among Lagos State SME owners. Based on the findings of this study, it is recommended that conventional insurers should endeavor to develop products that address the actual needs of SMEs. It is also recommended that SME owners should be highly disposed to risk improvement measures as this would help to reduce the cost of market insurance and self-insurance even if both are taken up contemporaneously.
DOAJ (DOAJ: Directory of Open Access Journals), Dec 1, 2021
LASU Journal of Employment Relations & Human Resource Management, 2018
The coverage of the Third Party Liability (TPL) motor insurance is limited when compared with the... more The coverage of the Third Party Liability (TPL) motor insurance is limited when compared with the third party liability, fire & theft and comprehensive coverage. Notwithstanding this limitation, vehicle owners seem to still prefer the third party liability motor insurance policy. This study seeks to identify the major factors responsible for this sentiment. 300 academic staff across five tertiary institutions in Lagos were engaged in this study. Data were gathered with the use of structured questionnaire, 146 copies of the questionnaires were duly completed and found useful for the study. The data were analysed by conducting factor analysis and testing three hypotheses using correlation analysis with the aid of Statistical Package for Social Sciences (SPSS), version 20. The study found significant positive relationship existing between family size, price of insurance, number of vehicles owned and marital status and the choice of TPL motor insurance policy among academic staff of hig...
LASU Journal of Employment Relations and Human Resource Management, 2022
The study examined technological change and employee’s quality of service in quoted insurance com... more The study examined technological change and employee’s quality of service in quoted insurance companies in Nigeria. The study adopted survey research design. The population of the study comprised of four thousand, eight hundred and twenty-two (4,822) employees of all 23 quoted insurance companies in Nigeria. The sample size of four hundred and eighty (480) was used to represent the target population. The respondents were selected using a multi-stage sampling technique which comprised of stratified and purposive sampling techniques. The research instrument was adapted questionnaire developed by previous researchers. The research instrument was validated using content validity and Cronbach’s Alpha coefficient reliability result of technological change was 0.852 and employee’s quality of service was 0.725 which are greater than 0.7. The stated hypothesis was tested using regression analysis. The study revealed that technological change exerts positive significant (beta = -0.2333, P-val...
LASU Journal of Employment Relations & Human Resource Management, 2018
This research focused on the effect of risk attitude on the purchase of third party motor liabili... more This research focused on the effect of risk attitude on the purchase of third party motor liability insurance by commercial drivers in Lagos State. The purpose of the study is to investigate whether risk attitude of commercial drivers in Lagos State affect demand for third party liability insurance. Cross sectional survey research design was adopted while Multi-Stage sampling technique comprising of stratified, purposive and quota sampling was used to select the sample size from the population of study. Data collected from the respondents were analysed with simple regression analysis using statistical package for social science (SPSS) version 21. Two hypotheses were formulated and tested. Results revealed that there is a significant relationship between commercial drivers’ attitude in Lagos and purchase of third party liability insurance. Therefore, sensitization on importance of third party liability insurance cover will improve the moral and morale hazards of commercial drivers in...
Academic Journal of Economic Studies, 2019
Reinsurance arrangement serves as a capital management tool often used by an insurer to mitigate ... more Reinsurance arrangement serves as a capital management tool often used by an insurer to mitigate against catastrophic loss. Despite its importance among insurance companies, scholars from recent schools of thought have queried its use. They argue that reinsurance may be costly, and on the long run affect insurers' financial performance. Hence, this study investigated the influence of reinsurance dependence on the profitability of general insurance companies in Nigeria. The study employed descriptive research design. A census of forty one (41) general insurance operating in Nigeria from 2006 to 2015 we used for the study. The study used Return on Assets (ROA) and Return on Assets (ROE) as proxies of profitability while Ratio of Ceded Reinsurance (RCR) and Reinsurance Dependence Ceded Premium (RDCP) were used as indicators of reinsurance dependence. The study adopted regression analysis using logarithmic transformation of model. The finding established that reinsurance dependence ...
Academic Journal of Economic Studies, 2019
Reinsurance arrangement serves as a capital management tool often used by an insurer to mitigate ... more Reinsurance arrangement serves as a capital management tool often used by an insurer to mitigate against catastrophic loss. Despite its importance among insurance companies, scholars from recent schools of thought have queried its use. They argue that reinsurance may be costly, and on the long run affect insurers’ financial performance. Hence, this study investigated the influence of reinsurance dependence on the profitability of general insurance companies in Nigeria. The study employed descriptive research design. A census of forty one (41) general insurance operating in Nigeria from 2006 to 2015 we used for the study. The study used Return on Assets (ROA) and Return on Assets (ROE) as proxies of profitability while Ratio of Ceded Reinsurance (RCR) and Reinsurance Dependence Ceded Premium (RDCP) were used as indicators of reinsurance dependence. The study adopted regression analysis using logarithmic transformation of model. The finding established that reinsurance dependence vari...
Nigerian insurance industry is beset with a number of challenges, the most prominent is the low a... more Nigerian insurance industry is beset with a number of challenges, the most prominent is the low awareness level among the insuring public. This may be resolved through effective personal selling as promotional tool for insurance services. Personal selling is a unique element of marketing, it does not only create awareness and provide information about the features of the products; it also adopts individualistic approach that is designed to meet specific need of prospects and specific market segments. This study will be useful to insurance and marketing practitioners who wish to understand why there is variation in the demand for similar products of different producers. It will arouse the reasons for constant review and update of marketing strategies as response to changes in the business environment. This paper examines the roles of personal selling in enhancing clients' satisfaction in Nigeria insurance market. A descriptive cross-sectional survey research was adopted and 110{O...
Academic Journal of Economic Studies, 2019
Reinsurance arrangement serves as a capital management tool often used by an insurer to mitigate ... more Reinsurance arrangement serves as a capital management tool often used by an insurer to mitigate against catastrophic loss. Despite its importance among insurance companies, scholars from recent schools of thought have queried its use. They argue that reinsurance may be costly, and on the long run affect insurers’ financial performance. Hence, this study investigated the influence of reinsurance dependence on the profitability of general insurance companies in Nigeria. The study employed descriptive research design. A census of forty one (41) general insurance operating in Nigeria from 2006 to 2015 we used for the study. The study used Return on Assets (ROA) and Return on Assets (ROE) as proxies of profitability while Ratio of Ceded Reinsurance (RCR) and Reinsurance Dependence Ceded Premium (RDCP) were used as indicators of reinsurance dependence. The study adopted regression analysis using logarithmic transformation of model. The finding established that reinsurance dependence vari...
Journal of Emerging Trends in Economics and Management Sciences, 2011
Nigerian motorists perceive motor risks differently, thus, the demand for insurance is expected t... more Nigerian motorists perceive motor risks differently, thus, the demand for insurance is expected to be motivated by how risk is perceived. Risk perception therefore is the process by which an individual organizes and selects a product with distinct characteristics which can either be intrinsic or extrinsic. This paper examines the implication of the level demand of comprehensive motor insurance among Nigerian motorists. Cross sectional survey research method was adopted for the study and three Hundred and Five (305) respondents including commercial drivers in international motor parks in Lagos State were randomly selected. Data procedures were done using descriptive statistics and Pearson's correlation coefficient. Findings revealed that price, income and religion belief affect risk perception of Nigerian motorists.
Insurance provides financial protection to the insured, though; its acceptance by Nigerian insuri... more Insurance provides financial protection to the insured, though; its acceptance by Nigerian insuring public is still low. This can sharply be traced to low awareness of insurance service. More importantly, quality of service to the few who embraced it had been low. Therefore, insuring public perceives insurance service as defective because customers’ expectations are not met. The objective of this research is to find out whether application of service quality measurement will drive demand for insurance products. Hypothesis was tested to find out whether SERVQUAL measurement is not significantly related to demand for insurance products in Nigeria. The study adopts descriptive research design; hypothesis was tested using regression analysis. The study reveals that there is a significant relationship between application of SERVQUAL measurement and demand for insurance. It is recommended that insurance companies operating in Nigeria should adopt SERVQUAL measurement which will further in...
Journal of Applied Sciences and Environmental Management, 2021
The focus of this paper is on the development of data mining algorithm for developing of predicti... more The focus of this paper is on the development of data mining algorithm for developing of predictive loan risk model for Nigerian banks. The model classifies and predicts the risk involved in granting loans to customers as either good or bad loan by collecting data based on J48 decision tree, BayesNet and Naïve Bayes algorithms for a period of ten (10) years (2010 2019) from using structured questionnaire. The formulation and simulation of the predictive model were carried out using Waikato Environment for Knowledge Analysis (WEKA) software. The performance of the three algorithms for predicting loan risk was done based on accuracy and error rate metrics. The study revealed that J48 decision tree model is the most efficient of all the three models.
Academic Journal of Economic Studies, 2020
nsurance business model is uniquely different from other financial institutions. This is because ... more nsurance business model is uniquely different from other financial institutions. This is because its operation relies on the projection of expected future risk (claims cost) before risk can be accepted. Hence, performance this role rests on the available underwriting capacity before risk can be assumed. Cumulative underwriting capacity of insurance companies in Nigeria seems weak compared to the quantum of gross premium generated. This is evident in their inability to assume larger unexpected risks especially in energy and aviation market. Therefore, the aim of this study is to examine the impact of joint underwriting capacity variables on the financial performance of non-life insurance companies in Nigeria. The study adopted correlational research design. A census of forty-one (41) non-life insurance companies operating in Nigeria as at December, 2019 were used for the study. The study made use of aggregate annual reports of all the forty-one companies operating in Nigeria over a t...
SSRN Electronic Journal, 2009
The paper explores how the adoption of enterprise risk management (ERM) practices influences exte... more The paper explores how the adoption of enterprise risk management (ERM) practices influences external audit fees in large pharmaceutical firms. The results show that the mere presence of a Chief Risk Officer does not influence external audit fees. However, when we take the different ERM practices into account, we find that firms that heavily rely on ERM report significantly lower external audit fees. This finding is especially relevant, as it indicates that ERM not only creates the conditions for better internal monitoring, but it also facilitates the external auditor’s work leading to lower external audit fees.
Annals of Spiru Haret University Economic Series, Sep 27, 2022
This study is to examine the influence of risk aversion on the adoption and utilization of self-i... more This study is to examine the influence of risk aversion on the adoption and utilization of self-insurance among Small Medium Enterprises (SME) owners in Lagos State. This study employed cross sectional class of survey research design. Three hundred and fifty SME owners were selected using Taro Yamane formula and the data obtained was analyzed using correlation and t-test inferential statistics. Questionnaires were administered through convenience sampling method. The result of the study revealed a significant relationship between risk aversion and self-insurance utilization among SME owners in Lagos State. Additionally, the result of this study also revealed that there is no significant difference between preference for conventional insurance and selfinsurance among Lagos State SME owners. Based on the findings of this study, it is recommended that conventional insurers should endeavor to develop products that address the actual needs of SMEs. It is also recommended that SME owners should be highly disposed to risk improvement measures as this would help to reduce the cost of market insurance and self-insurance even if both are taken up contemporaneously.
DOAJ (DOAJ: Directory of Open Access Journals), Dec 1, 2021
LASU Journal of Employment Relations & Human Resource Management, 2018
The coverage of the Third Party Liability (TPL) motor insurance is limited when compared with the... more The coverage of the Third Party Liability (TPL) motor insurance is limited when compared with the third party liability, fire & theft and comprehensive coverage. Notwithstanding this limitation, vehicle owners seem to still prefer the third party liability motor insurance policy. This study seeks to identify the major factors responsible for this sentiment. 300 academic staff across five tertiary institutions in Lagos were engaged in this study. Data were gathered with the use of structured questionnaire, 146 copies of the questionnaires were duly completed and found useful for the study. The data were analysed by conducting factor analysis and testing three hypotheses using correlation analysis with the aid of Statistical Package for Social Sciences (SPSS), version 20. The study found significant positive relationship existing between family size, price of insurance, number of vehicles owned and marital status and the choice of TPL motor insurance policy among academic staff of hig...
LASU Journal of Employment Relations and Human Resource Management, 2022
The study examined technological change and employee’s quality of service in quoted insurance com... more The study examined technological change and employee’s quality of service in quoted insurance companies in Nigeria. The study adopted survey research design. The population of the study comprised of four thousand, eight hundred and twenty-two (4,822) employees of all 23 quoted insurance companies in Nigeria. The sample size of four hundred and eighty (480) was used to represent the target population. The respondents were selected using a multi-stage sampling technique which comprised of stratified and purposive sampling techniques. The research instrument was adapted questionnaire developed by previous researchers. The research instrument was validated using content validity and Cronbach’s Alpha coefficient reliability result of technological change was 0.852 and employee’s quality of service was 0.725 which are greater than 0.7. The stated hypothesis was tested using regression analysis. The study revealed that technological change exerts positive significant (beta = -0.2333, P-val...
LASU Journal of Employment Relations & Human Resource Management, 2018
This research focused on the effect of risk attitude on the purchase of third party motor liabili... more This research focused on the effect of risk attitude on the purchase of third party motor liability insurance by commercial drivers in Lagos State. The purpose of the study is to investigate whether risk attitude of commercial drivers in Lagos State affect demand for third party liability insurance. Cross sectional survey research design was adopted while Multi-Stage sampling technique comprising of stratified, purposive and quota sampling was used to select the sample size from the population of study. Data collected from the respondents were analysed with simple regression analysis using statistical package for social science (SPSS) version 21. Two hypotheses were formulated and tested. Results revealed that there is a significant relationship between commercial drivers’ attitude in Lagos and purchase of third party liability insurance. Therefore, sensitization on importance of third party liability insurance cover will improve the moral and morale hazards of commercial drivers in...
Academic Journal of Economic Studies, 2019
Reinsurance arrangement serves as a capital management tool often used by an insurer to mitigate ... more Reinsurance arrangement serves as a capital management tool often used by an insurer to mitigate against catastrophic loss. Despite its importance among insurance companies, scholars from recent schools of thought have queried its use. They argue that reinsurance may be costly, and on the long run affect insurers' financial performance. Hence, this study investigated the influence of reinsurance dependence on the profitability of general insurance companies in Nigeria. The study employed descriptive research design. A census of forty one (41) general insurance operating in Nigeria from 2006 to 2015 we used for the study. The study used Return on Assets (ROA) and Return on Assets (ROE) as proxies of profitability while Ratio of Ceded Reinsurance (RCR) and Reinsurance Dependence Ceded Premium (RDCP) were used as indicators of reinsurance dependence. The study adopted regression analysis using logarithmic transformation of model. The finding established that reinsurance dependence ...
Academic Journal of Economic Studies, 2019
Reinsurance arrangement serves as a capital management tool often used by an insurer to mitigate ... more Reinsurance arrangement serves as a capital management tool often used by an insurer to mitigate against catastrophic loss. Despite its importance among insurance companies, scholars from recent schools of thought have queried its use. They argue that reinsurance may be costly, and on the long run affect insurers’ financial performance. Hence, this study investigated the influence of reinsurance dependence on the profitability of general insurance companies in Nigeria. The study employed descriptive research design. A census of forty one (41) general insurance operating in Nigeria from 2006 to 2015 we used for the study. The study used Return on Assets (ROA) and Return on Assets (ROE) as proxies of profitability while Ratio of Ceded Reinsurance (RCR) and Reinsurance Dependence Ceded Premium (RDCP) were used as indicators of reinsurance dependence. The study adopted regression analysis using logarithmic transformation of model. The finding established that reinsurance dependence vari...
Nigerian insurance industry is beset with a number of challenges, the most prominent is the low a... more Nigerian insurance industry is beset with a number of challenges, the most prominent is the low awareness level among the insuring public. This may be resolved through effective personal selling as promotional tool for insurance services. Personal selling is a unique element of marketing, it does not only create awareness and provide information about the features of the products; it also adopts individualistic approach that is designed to meet specific need of prospects and specific market segments. This study will be useful to insurance and marketing practitioners who wish to understand why there is variation in the demand for similar products of different producers. It will arouse the reasons for constant review and update of marketing strategies as response to changes in the business environment. This paper examines the roles of personal selling in enhancing clients' satisfaction in Nigeria insurance market. A descriptive cross-sectional survey research was adopted and 110{O...
Academic Journal of Economic Studies, 2019
Reinsurance arrangement serves as a capital management tool often used by an insurer to mitigate ... more Reinsurance arrangement serves as a capital management tool often used by an insurer to mitigate against catastrophic loss. Despite its importance among insurance companies, scholars from recent schools of thought have queried its use. They argue that reinsurance may be costly, and on the long run affect insurers’ financial performance. Hence, this study investigated the influence of reinsurance dependence on the profitability of general insurance companies in Nigeria. The study employed descriptive research design. A census of forty one (41) general insurance operating in Nigeria from 2006 to 2015 we used for the study. The study used Return on Assets (ROA) and Return on Assets (ROE) as proxies of profitability while Ratio of Ceded Reinsurance (RCR) and Reinsurance Dependence Ceded Premium (RDCP) were used as indicators of reinsurance dependence. The study adopted regression analysis using logarithmic transformation of model. The finding established that reinsurance dependence vari...
Journal of Emerging Trends in Economics and Management Sciences, 2011
Nigerian motorists perceive motor risks differently, thus, the demand for insurance is expected t... more Nigerian motorists perceive motor risks differently, thus, the demand for insurance is expected to be motivated by how risk is perceived. Risk perception therefore is the process by which an individual organizes and selects a product with distinct characteristics which can either be intrinsic or extrinsic. This paper examines the implication of the level demand of comprehensive motor insurance among Nigerian motorists. Cross sectional survey research method was adopted for the study and three Hundred and Five (305) respondents including commercial drivers in international motor parks in Lagos State were randomly selected. Data procedures were done using descriptive statistics and Pearson's correlation coefficient. Findings revealed that price, income and religion belief affect risk perception of Nigerian motorists.
Insurance provides financial protection to the insured, though; its acceptance by Nigerian insuri... more Insurance provides financial protection to the insured, though; its acceptance by Nigerian insuring public is still low. This can sharply be traced to low awareness of insurance service. More importantly, quality of service to the few who embraced it had been low. Therefore, insuring public perceives insurance service as defective because customers’ expectations are not met. The objective of this research is to find out whether application of service quality measurement will drive demand for insurance products. Hypothesis was tested to find out whether SERVQUAL measurement is not significantly related to demand for insurance products in Nigeria. The study adopts descriptive research design; hypothesis was tested using regression analysis. The study reveals that there is a significant relationship between application of SERVQUAL measurement and demand for insurance. It is recommended that insurance companies operating in Nigeria should adopt SERVQUAL measurement which will further in...