Analysis of storage and disposition of insurance records
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The study assessed storage and disposition of insurance records in Jubilee Insurance Company at the head office Plot 14 Parliamentary Avenue, P.O. Box 7122 Kampala, Uganda Six research questions guided the study; what are the types of insurance records generated and kept at Jubilee Insurance Company?, How is the storage of insurance records at Jubilee Insurance Company done?, How is the disposition of insurance records at Jubilee insurance company done?, What are the records retention and disposition schedules at Jubilee insurance company?, What are the challenges affecting record’s storage and disposition in Jubilee Insurance Company? , What strategies can be recommended for improvement of records storage and disposition at Jubilee Insurance Company? The study used a case study research design with both qualitative and quantitative research methodologies to collect and analyze data from selected respondents including insurance record officers, records managers, registrars, human resource staff, I.T staff and clients. Using questionnaires, interview guides and observation guides to collect data, the data collected underwent content analysis in computer using Excel programmer in order to obtain descriptive statistics such as frequencies and percentages where applicable. The study found out that the main insurance records managed in Jubilee Insurance Company included premium statements, receipts, pay slips, insurance claims, audit reports, procurements reports, contracts and agreements detailing the insurance policies between the company and its clients, reports of investigations on insurance claims in accidents, fires and medical cases. These records were stored in two forms i.e. electronic and hardcopy documents. Storage occurred in three forms including primary storage for easier local access to documents which was mainly at the company branches, secondary storage which included digitization of the records and upload onto the company servers fort a wider metropolitan access by the company registrars as well as tertiary storage which was done to accommodate auditors and secure long life insurance records. Disposition of insurance records in Jubilee Insurance Company was done either manually through shredding, recycling and burning or electronically through deletion, wiping and document recall depending on the form of its storage. The study concluded that storage and disposition of insurance records in Jubilee Insurance Company is done either manually or electronically depending on the form in which the records are stored. This approach allows compliance with both the National Records Retention Act and the Uganda Insurance Regulatory Authority policies as well as the company’s internal policy on records storage, retention and disposition. The study recommended that for better storage and disposition of insurance records, Jubilee Insurance Company ought to adapt a more specialized records team, setup an offsite records center and detail an elaborate policy and procedure on records disposition an and adapt modern ICTs to enable flexibility and prompt insurance records management.
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