Factors influencing insurance uptake among the youth in Nairobi County, Kenya
Date
2023
Authors
Aketch, N. A.
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Journal ISSN
Volume Title
Publisher
Strathmore University
Abstract
The study general objective was to examine factors influencing insurance uptake among the youth in Nairobi County, Kenya. It was guided by the following objectives: to establish the influence of product-related factors on the uptake of insurance products among the youth, to determine the effect of service-related factors on the uptake of insurance products among the youth and to examine the effect of demographic factors on service-related factors, and product-related factors on the uptake of insurance products among the youth. The study adopted a descriptive cross-sectional research design which targeted 1,791,550 youths aged between 18-34 years within the 17 sub-counties of Nairobi County. Stratified random sampling technique was used to select the sample. The sample size of this study was 400 respondents. Questionnaires were used to collect data. The data was analyzed using both inferential and descriptive statistics. Findings on the influence of product-related factors on the uptake of insurance products among the youth showed that uptake of insurance products had a statistically significant relationship with product related factors (r=.725, p<.01). It was determined that product-related factors account for 52.6% uptake of insurance product among youths in Nairobi County (R2=0.526; F=330.075; p<.01). Findings on the effect of service-related factors on the uptake of insurance products among the youth showed that uptake of insurance products had a statistically significant relationship with service-related factors, (r=.708, p<.01). Service related factors accounts for 50.1% uptake of insurance product among youths in Nairobi County (R2=0.501; F=298.826, p<.01). Findings on the effect of demographic factors on the uptake of insurance products among the youth the uptake of insurance products was also positively related to demographic factors including gender (χ2=88.646; p<0.01), marital status, (χ2=43.279; p<0.01), and employment (χ2=20.032; p<0.01). Key Words: Insurance Uptake; Youths, Product-Related Factors, Service-Related Factors, Demographic Factors.
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Citation
Aketch, N. A. (2023). Factors influencing insurance uptake among the youth in Nairobi County, Kenya [Strathmore University]. http://hdl.handle.net/11071/13363