The Role of Awareness in Predicting the Intention of Microfinance Entrepreneurs to Buy Microinsurance Services in Yemen
The study looks into the role of microinsurance awareness in predicting microfinance entrepreneurs' intentions to purchase microinsurance in Yemen. It is based on a survey of 201 microfinance entrepreneurs who received loans from Yemen's National Microfinance Foundation for various purposes. According to the results of analysis and testing, microinsurance awareness and the intention of microfinance entrepreneurs in Yemen to acquire microinsurance services were found to have a significant positive association. The study specifically demonstrated the potential of microinsurance awareness to predict the desire of around 17 percent of microfinance entrepreneurs to purchase microinsurance services.
The study proposes focusing more on increasing microinsurance awareness among microfinance entrepreneurs to attain optimal benefits. The sample size of the prospective study could be expanded to include more microfinance organizations. It could also investigate the role of formal and informal institutions in the country’s acceptance or rejection of microinsurance services.