Insurance literacy, perceived trust and insurance inclusion in Uganda

Archillies Kiwanuka and Athenia Bongani Sibindi

Management Matters, 2025, vol. 22, issue 1, 35-51

Abstract: Purpose - This study primarily aimed to explore how insurance literacy and perceived trust interact to affect insurance inclusion in Uganda. Through this, we aimed to determine whether perceived trust serves as a mediator in the relationship between insurance literacy and insurance inclusion. Design/methodology/approach - This research employed a correlational, cross-sectional and quantitative approach. A total of 400 voluntarily insured individuals in Uganda were sampled. Structured survey questionnaires were employed for data collection. PLS-SEM with bootstrapping was used to examine the hypothesized relationships. Findings - The findings indicated a significant, positive correlation between insurance literacy with both insurance inclusion and perceived trust. Furthermore, perceived trust was identified as having a positive and significant impact on insurance inclusion in Uganda. Perceived trust was also established as a significant mediator in the connection between insurance literacy and insurance inclusion in the context of Uganda. Originality/value - The contribution of this research resides in its explanation of how insurance literacy influences insurance inclusion in Uganda. For insurance literacy to influence insurance inclusion, a significant portion of insurance literacy is mediated through perceived trust of insurance providers.

Keywords: Insurance literacy; Perceived trust; Insurance inclusion; Financial inclusion; Uganda (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:eme:manmpp:manm-05-2024-0028

DOI: 10.1108/MANM-05-2024-0028

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