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Issue 5(1), October 2010 -- Paper Abstracts
Girard  (p. 9-22)
Cooper (p. 23-32)
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Coulmas-Law (p.42-46)
Stasio (p. 47-56)
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JOURNAL OF APPLIED BUSINESS AND ECONOMICS


How Do the Poor Relate Social Support to Microinsurance Demand? Evidence from Ghana


Author(s): Kathryn A. O. Assefuah, Raymond K. Dziwornu, Albert Gemegah, Anthony Q. Q. Aboagye

Citation: Kathryn A. O. Assefuah, Raymond K. Dziwornu, Albert Gemegah, Anthony Q. Q. Aboagye, (2020) "How Do the Poor Relate Social Support to Microinsurance Demand? Evidence from Ghana," Journal of Applied Business and Economics, Vol. 22, Iss.10,  pp. 112-122

Article Type: Research paper

Publisher: North American Business Press

​Abstract:

This study examined how the poor relate social support to microinsurance demand, using probit regression model. Questionnaire was administered to 200 household heads in five deprived communities in Accra. The study found that the poor relate social support to microinsurance demand as substitute, and are less likely to demand microinsurance when they receive more social support. The poor should be educated to adopt microinsurance as complementary risk mitigating tool to social support. Microinsurance firms should partner telecommunication firms to design and sell tailor-made products at affordable premium price and at vantage points where these supports are received by the poor.