Browsing by Author "Amarasekara, M.S.P.C.G."

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    Factors affecting in introducing micro-insurance for the self-employed people in Kurunegala district
    (Faculty of Commerce and Management Studies, University of Kelaniya Sri Lanka, 2021) Amarasekara, M.S.P.C.G.; Fernando., J.M.B.R
    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.
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    Factors Affecting in Introducing Micro-Insurance for The Self-Employed People in Kurunegala District
    (Faculty of Commerce and Management Studies, University of Kelaniya, Sri Lanka, 2021) Amarasekara, M.S.P.C.G.; Fernando, J.M.B.R.
    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 Kurunagala 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.