IDEAS home Printed from https://ideas.repec.org/a/rbs/ijbrss/v9y2020i4p138-152.html
   My bibliography  Save this article

Does the level of social cultural beliefs affect the level of agreement of the respondents on the motivational dimensions of microinsurance?

Author

Listed:
  • Antonio E. Etrata

    (Graduate School,University of Santo Tomas, Manila, Philippines)

  • Fernando L. Trinidad

    (Graduate School,University of Santo Tomas, Manila, Philippines)

Abstract

Insurance products and services in general are intended to transfer the risks brought about by both man-made and natural hazards from an individual or an entity to another. But since there is a misconception that insurance offered by commercial insurers are expensive and only for the moneyed consumers, or people need a lot of money to insure, insurance is only good for those who have big businesses or valuable properties. The poor and the vulnerable have relied on informal risk-mitigating measures like community-based insurance system or worst do not have any other means to help them cope and become risk-averse. This misconception has led to the conceptualization of microinsurance as an offshoot to microfinance primarily to offer insurance products and services that are affordable, the contractual obligations of both the insured and the insurer are nonlegalistic and lesser technical to make it more understandable to the intended market. This study aims to assess if social-cultural beliefs affect the level of agreement of the respondents on the motivational dimensions of microinsurance. A descriptive-correlational method was used in this research. A 40-item self-made questionnaire was subjected to validity and reliability tests before the same was distributed to six hundred respondents all over the Philippines. There were 422 retrieved questionnaires which 70% of the total number of questionnaires deployed. Conclusively, the results indicate that the level of agreement of the respondents on the motivational dimensions of microinsurance vary from one factor to another. Key Words: Marginalized, Microinsurance, Social Cultural Beliefs.

Suggested Citation

  • Antonio E. Etrata & Fernando L. Trinidad, 2020. "Does the level of social cultural beliefs affect the level of agreement of the respondents on the motivational dimensions of microinsurance?," International Journal of Research in Business and Social Science (2147-4478), Center for the Strategic Studies in Business and Finance, vol. 9(4), pages 138-152, July.
    • Handle: RePEc:rbs:ijbrss:v:9:y:2020:i:4:p:138-152
    DOI: 10.20525/ijrbs.v9i4.744
    as

    Download full text from publisher

    File URL: https://www.ssbfnet.com/ojs/index.php/ijrbs/article/view/744/587
    Download Restriction: no
    File URL: https://doi.org/10.20525/ijrbs.v9i4.744
    Download Restriction: no
    File URL: https://libkey.io/10.20525/ijrbs.v9i4.744?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. N/A, 2002. "Research in Progress," ILR Review, Cornell University, ILR School, vol. 55(3), pages 562-564, April.
    2. Rajagopal, 2014. "The Human Factors," Palgrave Macmillan Books, in: Architecting Enterprise, chapter 9, pages 225-249, Palgrave Macmillan.
    3. N/A, 2002. "Research in Progress," ILR Review, Cornell University, ILR School, vol. 55(2), pages 371-372, January.
    4. Bargin, Eloisa A. & Lomboy, Christopher. & Soriano, Elmer S., 2002. "A field study of microinsurance in the Philippines," ILO Working Papers 993565643402676, International Labour Organization.
    5. Peterson, Robert A, 1994. "A Meta-analysis of Cronbach's Coefficient Alpha," Journal of Consumer Research, Journal of Consumer Research Inc., vol. 21(2), pages 381-391, September.
    6. N/A, 2002. "Research in Progress," ILR Review, Cornell University, ILR School, vol. 55(4), pages 755-756, July.
    7. repec:ilo:ilowps:356564 is not listed on IDEAS
    8. Thankom Arun & Susan Steiner, 2008. "Micro-Insurance in the Context of Social Protection," Global Development Institute Working Paper Series 5508, GDI, The University of Manchester.
    9. N/A, 2002. "Research in Progress," ILR Review, Cornell University, ILR School, vol. 56(1), pages 200-200, October.
    10. Joseph Oscar Akotey & Charles K. D. Adjas, 2015. "Exploring the effect of microinsurance on asset inequality among households in Ghana," Journal of Developing Areas, Tennessee State University, College of Business, vol. 49(2), pages 373-398, April-Jun.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Fan, Shenggen & Johnson, Michael E. & Saurkar, Anuja & Makombe, Tsitsi, 2007. "Investing in African agriculture to halve poverty by 2015," ReSAKSS issue notes 4, International Food Policy Research Institute (IFPRI).
    2. Peter Clough, . "Building a Recycling Society: The Experience of New Zealand," Chapters, in: Zhang Yunling & Fukunari Kimura & Sothea Oum (ed.), Moving Toward A New Development Model For East Asia-The Role of Domestic Policy and Regional Cooperation, chapter 13, pages 393-428, Economic Research Institute for ASEAN and East Asia (ERIA).
    3. William E., Lilley & Luke J., Reedman & Liam D., Wagner & Colin F., Alie & Anthony R., Szatow, 2012. "An economic evaluation of the potential for distributed energy in Australia," Energy Policy, Elsevier, vol. 51(C), pages 277-289.
    4. Remedios P. Gam∗, 2018. "Teachers’ Experiences in Handling Students with Learning Difficulty," International Journal of Humanities, Arts and Social Sciences, Dr. Mohammad Hamad Al-khresheh, vol. 4(4), pages 179-185.
    5. Siow Yue Chia & Song Hong & Stephen Howes & Paul Wyrwoll & Vo Hai Minh & Sun Xuegong & Saroj Kumar Mohanty & Tulus T.H Tambunan & Somchai Jitsuchon & Larry Strange & Chang Jae Lee & Zhang Yunling & Mi, . "Moving Toward A New Development Model For East Asia-The Role of Domestic Policy and Regional Cooperation," Books, Economic Research Institute for ASEAN and East Asia (ERIA), number 2011-rpr-10 edited by Zhang Yunling & Fukunari Kimura & Sothea Oum, January.
    6. Domingues, Rita, 2021. "News Media Coverage And Public Reactions To A Red Tide At The Algarve Coast (Southern Portugal)," Journal of Tourism, Sustainability and Well-being, Cinturs - Research Centre for Tourism, Sustainability and Well-being, University of Algarve, vol. 9(3), pages 176-188.
    7. Saveyn, Bert & Paroussos, Leonidas & Ciscar, Juan-Carlos, 2012. "Economic analysis of a low carbon path to 2050: A case for China, India and Japan," Energy Economics, Elsevier, vol. 34(S3), pages 451-458.
    8. Dastjerdi, Aliasghar Mehdizadeh & Kaplan, Sigal & de Abreu e Silva, Joao & Anker Nielsen, Otto & Camara Pereira, Francisco, 2019. "Use intention of mobility-management travel apps: The role of users goals, technophile attitude and community trust," Transportation Research Part A: Policy and Practice, Elsevier, vol. 126(C), pages 114-135.
    9. Joseph A. Cazier & Benjamin B. M. Shao & Robert D. St. Louis, 2007. "Sharing information and building trust through value congruence," Information Systems Frontiers, Springer, vol. 9(5), pages 515-529, November.
    10. Rahman, Shaikh Moksadur, 2020. "Relationship between Job Satisfaction and Turnover Intention: Evidence from Bangladesh," Asian Business Review, Asian Business Consortium, vol. 10(2), pages 99-108.
    11. Wang Kai, 2019. "Towards a Taxonomy of Idea Generation Techniques," Foundations of Management, Sciendo, vol. 11(1), pages 65-80, January.
    12. Bridgelall, Raj & Stubbing, Edward, 2021. "Forecasting the effects of autonomous vehicles on land use," Technological Forecasting and Social Change, Elsevier, vol. 163(C).
    13. Haase, Janina & Wiedmann, Klaus-Peter & Labenz, Franziska, 2022. "Brand hate, rage, anger & co.: Exploring the relevance and characteristics of negative consumer emotions toward brands," Journal of Business Research, Elsevier, vol. 152(C), pages 1-16.
    14. Bevilacqua, Maurizio & Ciarapica, Filippo Emanuele, 2018. "Human factor risk management in the process industry: A case study," Reliability Engineering and System Safety, Elsevier, vol. 169(C), pages 149-159.
    15. Naveena Prakasam & Louisa Huxtable-Thomas, 2021. "Reddit: Affordances as an Enabler for Shifting Loyalties," Information Systems Frontiers, Springer, vol. 23(3), pages 723-751, June.
    16. Colin Jerolmack & Alexandra K. Murphy, 2019. "The Ethical Dilemmas and Social Scientific Trade-offs of Masking in Ethnography," Sociological Methods & Research, , vol. 48(4), pages 801-827, November.
    17. Valeriy Makarov & Albert Bakhtizin, 2014. "The Estimation Of The Regions’ Efficiency Of The Russian Federation Including The Intellectual Capital, The Characteristics Of Readiness For Innovation, Level Of Well-Being, And Quality Of Life," Economy of region, Centre for Economic Security, Institute of Economics of Ural Branch of Russian Academy of Sciences, vol. 1(4), pages 9-30.
    18. Zhao, Jing & Knoop, Victor L. & Wang, Meng, 2020. "Two-dimensional vehicular movement modelling at intersections based on optimal control," Transportation Research Part B: Methodological, Elsevier, vol. 138(C), pages 1-22.
    19. Kristine Edgar Danielyan & Samvel Grigoriy Chailyan, 2019. "Delineation of Effectors Impact on The Human Brain Derived Phosphoribosylpyrophosphate Synthetase-1 Activity," Biomedical Journal of Scientific & Technical Research, Biomedical Research Network+, LLC, vol. 24(1), pages 17918-17926, December.
    20. Chuan Wang & Yupeng Liu & Wen Hou & Chao Yu & Guorong Wang & Yuyan Zheng, 2021. "Reliability and availability modeling of Subsea Autonomous High Integrity Pressure Protection System with partial stroke test by Dynamic Bayesian," Journal of Risk and Reliability, , vol. 235(2), pages 268-281, April.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:rbs:ijbrss:v:9:y:2020:i:4:p:138-152. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Umit Hacioglu (email available below). General contact details of provider: https://edirc.repec.org/data/ssbffea.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.