Gikonyo, Thomas C.K. (2014) The Effect of Mobile Phone Technology on the Growth of Micro Insurance in Kenya. Masters thesis, University of Nairobi.
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Abstract
There has been a transformation in the way insurance services are delivered in the country. Mobile phones have enhanced rapid penetration of insurance products to mass-market and furthermore created opportunities for new business models to emerge for example Mobile Micro Insurance model. Empowered with mobile connectivity, micro insurance providers are increasingly mobile technology platforms to deliver new micro insurance products hence transforming the insurance landscape in Kenya. With great adoption of Mobile Phone Technology in Kenya, the objective of this research is to determine whether there is any effect of mobile phone technology on growth of micro insurance in Kenya.This study adopted census survey design and focussed on all insurance companies providing micro insurance in Kenya from year 2009 to year 2013. Primary data was collected by use of questionnaires to micro insurance consultants. Multiple Regression Model was used and data analyzed by use of Statistical Package for Social Science (SPSS) version 20 and descriptive statistics used to establish means and standard deviations of the responses. Correlation coefficient (R) and coefficient of determination (R2) was used to establish the nature and strength of relationship, while test of significance was undertaken by use of F test. The study revealed that mobile phone technology explains great percentage of the growth of micro insurance in Kenya. The study, recommend for regulatory authorities to come up with policies that promote mobile micro-insurance business in Kenya such as allowing co-insurance of mobile micro-insurance risks where different companies conglomerate to cover certain aspect of risks that are considered enormous to be covered by a single insurance firm. Insurers to work with regulators to ensure that they are able to seize the opportunities offered by mobile phones across the insurance value chain, such as digitization of client data and more efficient electronic payment systems and Regulation to support these opportunities while ensuring that consumers are protected and have access to appropriate insurance products that they understand and use. Insurers need to carefully design products and processes and pursue new partnerships in order to grasp the tremendous opportunity offered by mobile phones to efficiently provide valuable risk management services
| Item Type: | Thesis (Masters) |
|---|---|
| Subjects: | T Technology > T Technology (General) |
| Divisions: | Africana |
| Depositing User: | Mr Nahum Osman |
| Date Deposited: | 26 Sep 2016 08:30 |
| Last Modified: | 26 Sep 2016 08:31 |
| URI: | http://thesisbank.jhia.ac.ke/id/eprint/1006 |
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