Digital Literacy, Insurtech Adoption and Insurance Inclusion in Uganda

Archillies Kiwanuka and Athenia Bongani Sibindi ()
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Archillies Kiwanuka: Department of Accounting and Finance, Makerere University Business School (MUBS), Kampala P.O. Box 1337, Uganda
Athenia Bongani Sibindi: Department of Finance Risk Management and Banking, University of South Africa (UNISA), P.O. Box 392, Pretoria 0003, South Africa

JRFM, 2024, vol. 17, issue 3, 1-13

Abstract: The purpose of this study was to establish whether digital literacy and insurtech adoption influence insurance inclusion in Uganda. Principally, we sought to determine whether insurtech adoption mediates the nexus between digital literacy and insurance inclusion. This study adopted a cross-sectional and quantitative correlational approach. The study’s sample was 391 individuals who had used digital platforms such as mobile phones and computers to access insurance products and services in Uganda. Data were collected using structured survey questionnaires. Partial Least Squares Structural Equation Modelling (PLSEM) was employed to test the hypothesised relationships. The results demonstrated that both digital literacy and insurtech adoption significantly and positively influence insurance inclusion. We also found digital literacy to be a significant and positive determinant of insurtech adoption. Markedly, it was found that insurtech adoption mediates the association between digital literacy and insurance inclusion in Uganda. However, this study was conducted in a developing country with an underdeveloped insurance market and with low technological advancement. This may affect the generalisation of the study’s findings. This study’s novelty lies in establishing how digital literacy and insurtech adoption interact to influence insurance inclusion in Uganda. This is the first study to examine the effect of digital literacy and insurtech adoption on insurance inclusion.

Keywords: digital literacy; insurtech adoption; insurance inclusion; financial inclusion; Uganda (search for similar items in EconPapers)
JEL-codes: C E F2 F3 G (search for similar items in EconPapers)
Date: 2024
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