dc.contributor.author | Uwamungu, Christian | |
dc.date.accessioned | 2023-01-10T13:48:47Z | |
dc.date.available | 2023-01-10T13:48:47Z | |
dc.date.issued | 2022-11 | |
dc.identifier.citation | Uwamungu, C. (2022). Factors influencing commissions earned by brokers: a case study of Clarkson Insurance Brokers. Unpublished undergraduate dissertation. Makerere University, Kampala, Uganda | en_US |
dc.identifier.uri | http://hdl.handle.net/20.500.12281/14006 | |
dc.description | A dissertation submitted to the School of Statistics and Planning in partial fulfillment of the requirements for the award of a Bachelor of Science degree in Actuarial Science of Makerere University | en_US |
dc.description.abstract | The insurance industry plays a vital role in the financial system of an economy. In Uganda, there
has been a low uptake of insurance (1%) and previous studies show that insurance intermediaries
like brokers play a significant role in increasing insurance penetration. Brokers work in the best
interest of their clients and earn commissions. In a commission-based system, the broker is
motivated to produce more since it will reflect in the earnings.
The main aim of the study is to determine factors influencing commissions earned by brokerage
firms; a case study of Clarkson Insurance Brokers.
The study was based on an analysis of 2,120 policies that were brought on board by the broker
for 2021. Univariate analysis, bivariate analysis, and multivariate analysis were performed on the
variables to establish relationships using STATA.
The results of the study revealed significant relationships between commission earned and policy
status (p = 0.000), risk covered (p = 0.000) and premium collected (p = 0.000). Premium
explains 94% of the variation in commissions earned.
Therefore, insurers should design more microinsurance products that suit the Ugandan market
which in turn will increase the premiums collected by brokers hence more commission earnings.
The regulatory authority should improve the commission rates awarded to brokers. Brokers
should focus more on customer retention since most of their earnings come from renewal
policies. | en_US |
dc.language.iso | en | en_US |
dc.publisher | Makerere University | en_US |
dc.subject | Commission | en_US |
dc.subject | Insurance | en_US |
dc.subject | Brokers | en_US |
dc.subject | Clarkson Insurance Brokers | en_US |
dc.subject | Brokers commission | en_US |
dc.title | Factors influencing commissions earned by brokers: a case study of Clarkson Insurance Brokers | en_US |
dc.type | Thesis | en_US |