Barriers in implementing Micro Insurance. The self-employment sector in Sri Lanka

Table of Contents

Chapter 01:Introduction of the study

Introduction

1.1 Background of the study

1.2 Problem statement

1.3 Problem justification

1.4 Objectives of the Study

1.5 Significance of the study

1.6 Scope of the study

Chapter 02: Literature review

2.1 Introduction

2.2 Willingness to pay/buy for insurance

2.3 Poor accessibility for insurance by rural communities

2.4 Affordability

2.5 Consumer trust/ confidence on micro insurance

2.6 Conclusion

Chapter 03: Research Methodology

3.1 Introduction

3.2 Conceptual Framework

3.3 Research Hypotheses

3.4 Population

3.5 Sample

3.6 Data Collection

3.7 Statistical methodology

Chapter 04:Data Presentation and Analysis

4.1 Profile of Respondents

4.2 Findings

4.2.1. Analysis of Independent variable 01 - Willingness to pay/buy for insurance

4.2.2. Analysis of Independent variable 02 – Accessibility for insurance by rural community

4.2.3. Analysis of Independent variable 03 – Affordability

4.2.4. Analysis of Independent variable 04 – Consumer trust /Confidence in micro insurance

Chapter 05:Discussions of Findings and Interpretation

5.1 Interpretation and discussion of hypothesis

5.2. Variable 01 – Willingness to pay/buy for insurance

5.3 Variable 02 - Accessibility for insurance by rural communities

5.4 Variable 03 – Affordability

5.5 Variable 04 - Consumer trust/ confidence in micro insurance

Chapter 06: Conclusion

6.1 The Overall Study

6.2 Recommendations

6.3 Directions for future research

Research Objectives and Key Focus Areas

The primary objective of this dissertation is to investigate and identify the critical barriers that impede the effective implementation of micro insurance programs, specifically within the self-employment sector in Sri Lanka. The research seeks to understand how variables such as willingness to pay, accessibility, affordability, and consumer trust influence the adoption and sustainability of these financial services among low-income and rural populations.

• Analysis of consumer willingness to pay for insurance products.
• Evaluation of accessibility challenges faced by rural communities in obtaining insurance.
• Assessment of the affordability of insurance premiums for the self-employment sector.
• Examination of the role of consumer trust and confidence in the success of micro insurance schemes.

Excerpt from the Dissertation

Summary of Chapters

Chapter 01:Introduction of the study: This chapter introduces the core concept of micro insurance and highlights the specific problem of implementing these schemes within the Sri Lankan self-employment sector, outlining the research objectives and significance.

Chapter 02: Literature review: This section reviews existing academic research regarding willingness to pay, accessibility, affordability, and consumer trust, identifying these as key barriers for micro insurance implementation.

Chapter 03: Research Methodology: This chapter defines the conceptual framework and the statistical approaches used to test the research hypotheses, including the data collection methods through questionnaires distributed in SANASA societies.

Chapter 04:Data Presentation and Analysis: This chapter presents the findings from the survey data, utilizing descriptive statistics, regression analysis, and Pearson correlation to measure the relationships between the independent variables and micro insurance implementation.

Chapter 05:Discussions of Findings and Interpretation: This chapter interprets the statistical results and links them back to the literature, discussing the implications of willingness to pay, accessibility, affordability, and consumer trust on the practical implementation of micro insurance.

Chapter 06: Conclusion: This final chapter synthesizes the research findings, provides actionable recommendations for stakeholders such as insurers and regulators, and suggests directions for future academic study in this field.

Keywords

Micro insurance, self-employment, Sri Lanka, willingness to pay, accessibility, affordability, consumer trust, rural communities, risk mitigation, financial inclusion, SANASA, insurance implementation, low-income group, insurance premiums, insurance sustainability.

Frequently Asked Questions

What is the primary focus of this dissertation?

The research focuses on the barriers that prevent the effective implementation of micro insurance programs for the self-employment sector in Sri Lanka.

What are the main thematic areas analyzed in the study?

The four main thematic variables analyzed are willingness to pay, accessibility of insurance services, affordability for low-income groups, and consumer trust in insurance providers.

What is the central research question?

The study asks whether factors such as accessibility, affordability, and consumer trust significantly influence the implementation of micro insurance programs among self-employed individuals in rural Sri Lanka.

Which research methodology was employed?

The author used a quantitative approach, collecting data through a structured questionnaire from 278 respondents across 16 districts, and analyzed the results using Pearson correlation and simple linear regression models in IBM SPSS.

What is covered in the main body of the work?

The main body covers a comprehensive literature review, the conceptual framework of the study, detailed presentation and statistical analysis of survey data, and a discussion on how these findings address the initial problem statement.

Which keywords best characterize this work?

Key terms include micro insurance, self-employment, willingness to pay, accessibility, affordability, and consumer trust.

How did the study address the role of consumer trust?

The study found that trust is a critical final determinant for consumers; it emphasizes that even if insurance is affordable and accessible, consumers require faith in the insurer’s ability to pay future claims before committing to a policy.

What were the specific findings regarding the influence of gender?

The analysis revealed that female self-employers in the sample showed a more favorable attitude toward obtaining insurance compared to their male counterparts.

What recommendation does the author give for future implementation?

The author recommends that insurers should design bundled, tailor-made products, reduce paper-intensive processes, and recruit insurance agents from within the local community to build stronger trust.