The Impact of Mis-Selling on Customer Trust in the Life Insurance Industry

Authors

  • Kwaku Sarpong Danso

DOI:

https://doi.org/10.59573/emsj.7(3).2023.42

Keywords:

mis-selling, trust, life insurance, sales development

Abstract

Even though there has been steady growth in the insurance industry in Ghana, mis-selling has been a significant impediment to the development or penetration of the life insurance industry. This has impacted the level of clients’ trust in insurance companies in Ghana. The research assessed the negative effect mis-selling has on clients’ trust. It was carried out in the Kumasi Metropolis, the second largest city in Ghana. Existing clients of life insurance companies were interviewed. In total ten (10) respondents were interrogated. According to the findings, 60% of the respondents have experienced some level of mis-selling which has impacted their level of trust for insurance companies, which affected sales growth for many life insurance companies.

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Published

2023-09-03

Issue

Vol. 7 No. 3 (2023)

Section

Articles

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