Perception of Risk Exposure and its Influence on Consumption of Insurance Products Among Daystar MBA Students
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Date
2012-06
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Volume Title
Publisher
School Business and Economics, Daystar University
Abstract
The insurance industry in Kenya has been in existence for decades. However to this day, the industry struggles with poor permeation levels of insurance products. Majority of the Kenyan population are not insured and levels of risks are predicted to be high in present time than in previous years. This study focused on low consumption levels of insurance products in order to come up with ways that could help improve consumer purchase. The purpose of carrying out this study was to find out the perception of risk exposure and its influence on consumption of insurance products among Daystar MBA students. The objectives of the study were to determine the perception of risk exposure and its influence on consumption of insurance products, to determine the level of consumption of insurance products among Daystar MBA students, and to establish and recommend strategies which insurance companies can pursue to increase consumption of insurance products. The population of the study was 471 Daystar MBA students from which a sample of seventy one students was targeted. The type of research study used was descriptive research in order to describe the reality that existed in the area of study. Data was collected using questionnaires and was later analyzed through SPSS program. Study findings showed that majority of the respondents did not view earnings risk as severe which influenced their purchase decision where none of the respondent indicated that they had purchased an insurance investment product. Majority of the respondents did not view longevity risk as severe which also influenced their purchase decision where none of the respondents indicated that they had purchased a pension insurance product. Medical risk expense was rated by majority of respondents as severe resulting in high purchase of medical insurance.
Description
Thesis
Keywords
Risk Exposure, Consumption Of Insurance Products, Insurance companies
Citation
Marangu, Janet, (2012). Perception of Risk Exposure and its Influence on Consumption of Insurance Products Among Daystar MBA Students. School Business and Economics, Daystar University: Thesis