Abstract:
Introduction: The primary goal of this research is to identify the major barriers or variables that influence the implementation of microinsurance schemes in the north-central province, with a focus on the self-employment sector.
Design/Methodology/Approach: Based on the literature review, the conceptual framework was formulated with independent variables and a dependent variable. Independent variables selected for the study are willing to pay, trust in insurance, accessibility, simplicity and flexibility. The dependent variable is the implementation of microinsurance. Questionnaires were distributed to collect data in two districts of Northcentral Province. The study followed the simple random sampling method for data collection. The sample size was 140. Descriptive statistics and linear regression models were used for data analysis and SPSS was used as statistical software to analyse the data.
Finding: According to the findings willingness to pay and trust in insurance significantly influence the implementation of microinsurance.
Conclusion: This research help develop microinsurance programmes in Sri Lanka which are not developed at the moment.
