Journal of Agricultural Economics and Development
Journal of Agricultural Economics and Development Vol. 1(5), pp. 106-114, November 2012 ISSN 2327-3151 ©2012 Academe Research Journals
Full Length Research Paper
Preferences of Micro-insurance products: Evidence from the mutual assistance fund in Vietnam
Son Hong Nghiem* and An Hoai Duong
1The University of Queensland, Australia.
2Thai Nguyen University, Vietnam.
*Corresponding author. E-mail: h.nghiem@uq.edu.au. Tel: +61-7-3346-4785. Fax: +61-7-3346-4603.
Accepted 2 November, 2012
Abstract
This study investigates preferences of clients for microinsurance products using a case study from the Mutual Assistance Fund (MAF), the pioneer microinsurance provider in Vietnam. The study aims to contribute to improving the ability of the young microinsurance industry in Vietnam to meet the needs of its clients, which in turn, will enhance its efficiency, effectiveness and sustainability. In addition, the study examines determinants of microinsurance and identifies potential gateways for microinsurance to serve the uninsured poor in the population. Our results reveal that the current premiums offered by the MAF seem too low and that they have no significant effect to the preferences of clients over product attributes. In the same line with Tran and Yun (2004), we found that clients are willing to pay higher premium in order to receive a higher level of benefit. In addition, the main factors that significantly affect product preferences are experiences in insurance, mathematical ability and attitude towards risk.
Key words: Microinsurance, Vietnam, conjoint analysis, client preferences.
Current Issue
List of Other Journals
[Abstract][View HTMLText][View FullText][Download FullText] (187KB)
Search Pubmed for articles by: Nghiem SH Duong AHSearch Google Scholar for articles by: Nghiem SH Duong AHPreferencesRelated ArticlesEmail this Article to a friendPrint this ArticleArticle Access StatisticsViewed 869
Emailed 0
Printed 0
PDF Downloaded 1921