Home / Current Issue / Paper 1703496
Microinsurance Financial Sustainability Attributed to Consumer Behaviour During the COVID-19 Pandemic: Evidence from The Philippines
Subject area: Management and Commerce · Area of research: Insurance
Abstract
The Covid-19 pandemic is seen as a game-changer, and it brings new challenges and opportunities to the insurance market. The pandemic reminds us of the purpose of insurance: to safeguard people from uncertainty and unpredictable events. The long-term effects of COVID-19 are difficult to anticipate. Microinsurance companies must grasp the opportunity to sustain their financial growth by innovating products to suit shifting consumer behavior and preferences, using technology and digitalization and increasing awareness of the public. This will allow them to have sustainable development in the new normal.
Keywords
Consumer behavior, Covid-19 Pandemic, Micro insurance, Insurance, Micro finance,
How to cite this paper
@article{1703496,
author = {Ma. Princess Mamagat-Gabuya, Ricky Malapit},
title = {Microinsurance Financial Sustainability Attributed to Consumer Behaviour During the COVID-19 Pandemic: Evidence from The Philippines},
journal = {Iconic Research And Engineering Journals},
year = {2022},
volume = {5},
number = {12},
pages = {35-38},
issn = {2456-8880},
url = {https://www.irejournals.com/formatedpaper/1703496.pdf},
abstract = {The Covid-19 pandemic is seen as a game-changer, and it brings new challenges and opportunities to the insurance market. The pandemic reminds us of the purpose of insurance: to safeguard people from uncertainty and unpredictable events. The long-term effects of COVID-19 are difficult to anticipate. Microinsurance companies must grasp the opportunity to sustain their financial growth by innovating products to suit shifting consumer behavior and preferences, using technology and digitalization and increasing awareness of the public. This will allow them to have sustainable development in the new normal.},
keywords = {Consumer behavior, Covid-19 Pandemic, Micro insurance, Insurance, Micro finance,},
month = {June},
}