Comparative analysis of claims settlement operations under insurance law: Uganda and Zambia in perspective
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Date
2017-09
Authors
Journal Title
Journal ISSN
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Publisher
Kampala International University, School of Law
Abstract
With constant liberalization of the economy, issues of insurance
(claims settlements) are a growing concern and as such the law
governing insurance is one that must be taken into critical
consideration. This research sought to investigate the insurance
industry and its regulation in Uganda and Zambia. In that regard, the
study took a comparative analysis of claims settlements operations
under insurance law in the two countries; reviewing the regulatory
bodies and to come up with effective mechanisms that can be utilized
by the Insurance Regulatory Authority of Uganda and the Pensions
Insurance Authority of Zambia. Using qualitative research methods,
the study established that the use of iriformation communication
technology could enhance the efficiency of the two Regulatory bodies.
The research brought out various challenges such as fraud in the
industry, lack of an efficient iriformation sharing system, strict
regulations from the Regulatory Authorities on the insurance
companies, internal processes delaying claims settlements among
others. It recommends that the Regulatory bodies and insurance
companies need to continuously upgrade infrastructure and
computerization, increase claims settlement limits for branches, and
be able to explain the technical language used in the policy to
customers that may not understand the language.
Description
A dissertation submitted in partial fulfillment of the requirements for the a ward of the Degree of Bachelor of laws of Kampala International University
Keywords
Comparative analysis, Claims settlement operations, Insurance law, Uganda, Zambia