Data Protection and Competitiveness of Insurance Firms in the South of Nigeria

This study established the relationship between data protection and insurance firms’ competitiveness in South-South Nigeria. The study employed the information security control theory as the baseline theory. The study adopted a descriptive research design using a cross-sectional approach. The specific population comprised all the insurance firms in South-South, Nigeria, while the accessible population for the study comprised the 29 insurance firms in South-South, Nigeria. The researcher adopted a census method, and 145 principal officers were chosen based on the focus of the study. Data were collected using a structured close-ended questionnaire. The retrieved data were analyzed using the Spearman Rank Order of Correlation Coefficient with the help of the Scientific Package for Social Science version 23. The findings revealed a positive and significant relationship between data protection and competitiveness of insurance firms in South-South Nigeria using the Pearson Product Moment Correlation coefficient at 95% confidence interval. The study concludes that there is a positive and significant relationship between data protection and insurance firms’ competitiveness in South-South Nigeria. Therefore, the study recommends that insurance firms should ensure that global best practices are encouraged to enhance the protection of datasets, which is integral to the competitiveness of insurance firms in South-South Nigeria.