An investigation into the influence of demographic factors on market strategies for life insurance demand : A case study of Windhoek, Namibia select="/dri:document/dri:meta/dri:pageMeta/dri:metadata[@element='title']/node()"/>

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dc.contributor.author Adeline, Kasera
dc.date.accessioned 2024-02-12T06:34:30Z
dc.date.available 2024-02-12T06:34:30Z
dc.date.issued 2022
dc.identifier.uri http://hdl.handle.net/11070/3772
dc.description A thesis submitted in partial fulfilment of the requirements for the degree of master in business administration management strategy en_US
dc.description.abstract This study aimed at investigating the influence of demographic factors on market strategies for life insurance demand in Windhoek, Namibia. The main objective was to investigate the impact of demographic factors on market strategies for life insurance demand in Namibia, and the specific objectives were to determine the effect of age, sex, level of education, and marital status (demographic factors) on life insurance demand, to formulate demographically inclusive life insurance market strategies and to make a recommendation with regards to the impact of demographic factors on market strategies for life insurance demand in Namibia. The study population was Windhoek residents, with a sample size of eighty from the public and twenty from the selected insurance companies. The study used quantitative research and a causal comparative research design. The research was conducted through self-administered questionnaires, consisting of eight sections. Data analysis and discussions were done through graphs, charts, and tables. This was to interpret, read and understand the results easily. The study found that demographic factors do affect the uptake of insurance and current strategies used by insurance companies and it was also companies, and it was also revealed that insurance companies needed to produce new or more strategies to benefit and attract more customers. Furthermore, the study concluded that based on the findings, demographic factors do affect insurance uptake. There are no specific policies designed to satisfy certain individuals demographically, since all policies are generalised by insurance companies. Cultural attitudes and values, religion, and language have impacted insurance uptake and should be considered when motivating people to purchase insurance. Lastly, insurance companies need to find ways to attract low-income individuals and make their packages understandable to all. ii Based on the findings, the study made several recommendations which include; encouraging insurance companies through NAMFISA to sensitise the public on the different benefits of insurance and insurance products available on the market, simplifying insurance policies to make it easy for individuals to understand, and have insurance companies open up more offices across the country to reach more people. Another area to look at would be how religion and cultural beliefs affect the uptake of insurance in the rural areas of Namibia. This would help them understand the people more and be able to design insurance packages specifically for them en_US
dc.language.iso en en_US
dc.publisher University of Namibia en_US
dc.subject Demographic factors en_US
dc.subject Life insurance en_US
dc.subject Market strategies en_US
dc.title An investigation into the influence of demographic factors on market strategies for life insurance demand : A case study of Windhoek, Namibia en_US
dc.type Thesis en_US


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