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Njagi Elsy Irene

Student, Jomo Kenyatta University of Agriculture and Technology


This study aimed to investigate factors affecting the accessing of insurance products among the youth in Nairobi’s Westlands District. Though youth make up about one third of the Kenyan population, their lives and business face many challenges which are evident in terms of: income ratios, incomes stability, access to credit, ownership of assets as well business sizes. Studies are replete with constraints youth face in regard to employment, entrepreneurship, access to insurance products, access to finance and income security. This study was therefore examining the challenges the youth face in accessing insurance products which in turn affect growth and development of the one third of the Kenya population as well as the GDP. Currently, there are 41 licensed insurers in Kenya who offer various insurance products. However, there has been low penetration of insurance among the youth in Kenya. This study was carried out in Westlands District one of the nine Districts in Nairobi County. The study sought find out whether the costs of insurance products, the attitude and perceptions of the youth, the information asymmetry and technology had an effect on the youth in accessing the various insurance products currently available in the market. The study population consisted of all the youth in Westlands District. A representative sample was obtained by simple random sampling technique. Data was collected from this sample using a structured questionnaire. The data was then analyzed using the Logistical Regression and Statistical Package for Social Science (SPSS) and data interpretation was ranged on sample descriptive statistics such as percentages and frequency distribution. The study concluded that inadequate information and finances had major reason for youths not to have much interest on insurance policies. Majority of the youths do not believe in insurance or they don’t have the capacity to buy the various insurance policies to safeguard their futures. The study recommended that the insurance industry put into consideration pricing strategies of insurance products. It was apparent that cost of insurance product variable contributed fairly strong towards access to insurance in that due to lack of competitive prices of insurance products youths found it hard to access insurance products. This study recommended that youth targeted prices on insurance product should be strategized in the insurance industry in order to spur easy access.

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