IJSSE - International Journal of Social Sciences and Entrepreneurship Upcoming Journals: International Journal of Innovation and Management (IJIM), International Journal of Engineering and Architecture (IJEA) & International Journal of Science and Agriculture | IJAE, IJEF & IJHRP Call for Papers - Forthcoming Issue (Decemer 2014). Submission deadline: 25th December 2014 |

No images

UserInfo


3.219.167.163
United States United States
Your Time

User Statistics Info
IJSSE is one of the leading International Journals by User Statistics!

Login Form



IJSSE Newsletter Form
Full Names *
E-mail Address: *
Country *
PDF Print E-mail

FACTORS CONTRIBUTING TO LOW INSURANCE PENETRATION IN KENYA

George M. Kamau
Student, Jomo Kenyatta University of Agriculture and Technology

ABSTRACT

The issue of insurance penetration remains a key concern for insurance practitioners and scholars as well as policy makers.  In Kenya insurance penetration has remained low at 3.1% of the country’s GDP as at August 2012 despite the social, economic and political changes experienced in the country in the last 10 years.  This study investigated factors contributing to low insurance penetration in Kenya. Knowing the reasons why this is so is important given the pivotal role that insurance plays in the development of the country. The study was a descriptive survey. Primary data was used in the study and was gathered through use of a questionnaire. The target population for the study was MBA students at JKUAT Nairobi CBD campus. A sample of 65 respondents was chosen. Fifty two questionnaires were completely and satisfactorily filled. Two interviews were conducted with the public relations manager and the marketing manager at the Insurance Regulatory Authority. Data analysis was conducted using descriptive statistics. The data was presented in charts and tables as per the identified themes based on the research objectives. The study found that nature of insurance industry, income, cost of insurance and demographic factors are factors which can explain the current low insurance penetration in Kenya as they had large negative contribution on uptake of insurance services. The study also found that it was unclear on whether education contributes to the low insurance penetration. The study further found that the existing regulatory framework could not be linked to the current low insurance as it was contributing positively to uptake of insurance services.


Full Text PDF Format

 
Banner
Publication Disclaimer: The accountability of the article published in IJSSE journals is entirely of the author(s) concerned and not of the publisher/editor. The view expressed in the articles of any IJSSE journal is those of the contributors, and it does not essentially correspond to the views of the publisher/editor. It is responsibility of the authors to seek copyright clearance for any part of the content of the articles. The publisher/editor of IJSSE journals is not liable for errors or any consequences arising from the exercise of information contained in it.
Free counters!
IJSSE - International Journal of Social Sciences and Entrepreneurship | Copyright 2013 | All Rights Reserved  <