Authors : ANOKE Amechi Fabian; NZEWI, Hope Ngozi; Agagbo Ogugua Chinyere; ONU Anthonia Nkechi
Volume/Issue : Volume 6 - 2021, Issue 8 - August
Google Scholar : http://bitly.ws/9nMw
Scribd : https://bit.ly/2WCzoMo
Micro-insurance is a social system, which
offers financial cover for the effects of a disaster to the
low income in the society. The study anchored on market
power theory to examine the influence of microinsurance services on the growth of women
entrepreneurs in Onitsha, Anambra State, Nigeria.
Using all the population of registered women
entrepreneurs in Onitsha, Anambra State as of January
2021, which was 657. 248 of this population have at least
one insurance policy with either conventional insurance
firm or with a micro-insurance industry, which was used
purposively as the sample size of the study.
Questionnaire was used as the only instrument to collect
data in the study while regression was used to analyze
the formulated hypotheses. The study found that Microinsurance saving, and lending services have positive and
significant effect on women entrepreneurship growth in
Onitsha, while micro-insurance management training
service has negative and insignificant effect on the
growth of women entrepreneurs in Onitsha, Anambra
state. The study concludes that micro-insurance services
are important determinants of women entrepreneurship
growth in Onitsha, Anambra State, Nigeria and
recommended among others that micro insurance sector
should be properly publicized through mass education
and adopted as a subsidiary by all insurance firms in
Nigeria as this will help cover the active poor in the
society, who are not currently covered by the
conventional insurance firms in Nigeria; this will
enhance insurance penetration and entrepreneurship
growth in Nigeria.
Keywords : Growth, Micro-insurance, Onitsha, Services and Women-entrepreneurs.