Insurance Awareness and Acceptance: Empirical Evidence among Small and Medium-Sized Enterprises in the Lagos State, Nigeria

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dc.contributor.authorAjemunigbohun, Sunday Stephen
dc.contributor.authorAyobami, Adeoye Olarewaju
dc.coverage.issue32cs
dc.coverage.volumeXIIcs
dc.date.accessioned2020-05-15T13:13:53Z
dc.date.available2020-05-15T13:13:53Z
dc.date.issued2018-12cs
dc.description.abstractPurpose of the article: Insurance awareness in Nigeria needs to be encouraged among entrepreneurs in order to galvanise support for insurance penetration and density. Methodology/methods: A descriptive approach and survey design were employed. A singlestage cluster sampling technique and interview schedule were both employed. 352 respondents made up of small business and medium-sized operators were drawn from three Local Government Council Areas of Lagos. The statistical instruments employed for this study were the Kolmogorov-Smirnov and Kendall’s rank correlation coefficient techniques. Scientific aim: This study aims at the relationship between insurance awareness and its acceptability among small business and medium-sized operators in the metropolis of Lagos. Findings: The results of this study assume that insurance products have not gained high popularity among small business and medium-sized operators in the Lagos metropolis. They have also shown that there is a low but slightly positive relationship between insurance awareness and its acceptance among small business owners in the Lagos metropolis. Our formulated hypotheses have been supported. Conclusions: This study provides a better understanding on the importance of insurance awareness as related to its acceptance among small and medium-sized entrepreneurs This study recommends that greater attention should be placed on small business owners’ education of and engagement in the design of insurance products related to their activities so as to allow for the sense of ownership, effective risk management communication and proper risk financing techniques.en
dc.formattextcs
dc.format.extent9-19cs
dc.format.mimetypeapplication/pdfen
dc.identifier.citationTrendy ekonomiky a managementu. 2018, XII, č. 32, s. 9-19. ISSN 1802-8527.cs
dc.identifier.doi10.13164/trends.2018.32.9cs
dc.identifier.issn1802-8527
dc.identifier.urihttp://hdl.handle.net/11012/187706
dc.language.isoencs
dc.publisherVysoké učení technické v Brně, Fakulta podnikatelskács
dc.relation.ispartofTrendy ekonomiky a managementucs
dc.relation.urihttps://trends.fbm.vutbr.cz/index.php/trends/article/view/trends.2018.32.9cs
dc.rights© Vysoké učení technické v Brně, Fakulta podnikatelskács
dc.rights.accessopenAccessen
dc.subjectinsurance awarenessen
dc.subjectinsurance acceptanceen
dc.subjectrisk communicationen
dc.subjectSMEsen
dc.subjectLagosen
dc.titleInsurance Awareness and Acceptance: Empirical Evidence among Small and Medium-Sized Enterprises in the Lagos State, Nigeriaen
dc.type.driverarticleen
dc.type.statusPeer-revieweden
dc.type.versionpublishedVersionen
eprints.affiliatedInstitution.facultyFakulta podnikatelskács
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Číslo 32, ročník XII