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Title: | Factors affecting in introducing micro-insurance for the self-employed people in Kurunegala district |
Authors: | Amarasekara, M.S.P.C.G. Fernando., J.M.B.R |
Keywords: | Micro Insurance, Self Employed People, Affordability, Consumer Trust in Insurance, Implementing of Micro Insurance |
Issue Date: | 2021 |
Publisher: | Faculty of Commerce and Management Studies, University of Kelaniya Sri Lanka |
Citation: | Amarasekara M.S.P.C.G.; Fernando. J.M.B.R (2022), Factors affecting in introducing micro-insurance for the self-employed people in Kurunegala district, 10th Students’ Research Symposium, Department of Finance, Faculty of Commerce and Management Studies University of Kelaniya Sri Lanka, Faculty of Graduate Studies - University of Kelaniya, Sri Lanka. 6-31. |
Abstract: | Introduction-The objective of this study is to examine the factors that affect the enhancement of outreach of Micro Insurance Services available for the self-employment sector in the Kurunegala district. The concept of micro-insurance is more prevalent in third world countries and the need for financial services for the poor is now universally accepted. Micro Finance (MFI) was launched to provide a formal risk protection scheme and minimize poor household facilities and the idea of micro-insurance was born. Design/Methodology/Approach- The study used deductive approach. The study employed a survey questionnaire to collect the data and the sample consist with 113 respondents. Willingness to pay, accessibility, affordability, and consumer trust were used as the factors affecting introduction of micro-insurance schemes. Findings- Willingness to pay, accessibility, affordability, consumer trust in income has significant positive effect on the implementation of micro-insurance. The hypotheses were tested using simple regression analysis, and all alternative hypotheses were accepted and null hypotheses were rejected. Conclusion – The study relevels that industry professionals and insurance companies need to pay attention to the factors such as willingness to pay, accessibility, affordability, consumer trust in deciding their micro-insurance schemes. Thus, insurance companies can introduce new eye-catching insurance schemes to eliminate or mitigate the impact of these barriers. |
URI: | http://repository.kln.ac.lk/handle/123456789/25813 |
Appears in Collections: | 10th Students' Research Symposium 2021 (Full Papers) |
Files in This Item:
File | Description | Size | Format | |
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SRS 01.pdf | 188.55 kB | Adobe PDF | View/Open |
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