ASSESSING THE IMPLEMENTATION OF SOCIAL SECURITY INITIATIVES FOR THE PUBLIC: THROUGH INSURANCE SECTOR

Abstract

The assessment of social security implementation in the insurance sector is a critical endeavour to ensure the well-being and financial stability of individuals and businesses. This research examines the effectiveness and efficiency of social security measures, considering aspects such as accessibility, affordability, claims processing, and their broader impact on social and economic stability. The effective social security mechanisms in insurance are vital to safeguard policyholders, promote economic stability, enhance societal welfare, and inspire consumer confidence. This research aims to analyse regulatory frameworks, public awareness, industry practices, and their influence on the lives of policyholders. Through this research, the assessment which are essential for stakeholders, including government bodies, insurance companies, and the general public will be highlighted. And also will identify the strengths and weaknesses in the current system. Hence, this research seeks to facilitate collaboration and improvements to ensure that the insurance sector continues to support the city's growth and prosperity.

Keywords: affordability, claims processing, social security, regulatory compliance, multifaceted process