Exploring the Demand for Microinsurance among Marginalized Women in Bangladesh

Volume 15 No 1 (June) & 2(December) 2023

Exploring the Demand for Microinsurance among Marginalized Women in Bangladesh

Benazir Imam Majumder
Assistant Professor, Department of Banking and Insurance, University of Dhaka
Email: benazir.majumder@du.ac.bd
Sabiha Farzana Moonmoom
Assistant Professor, Department of Banking and Insurance, University of Dhaka
Email: sfm@du.ac.bd

Journal of Banking & Financial Services
Volume 15 Number 1 (June) & 2 (December) 2023
DOI : https://doi.org/10.57143/JBFSV15A2
Published online: 30 May, 2024
Published in Print: 02 June, 2024

Recently, microinsurance has drawn much interest as a possible instrument to shield people experiencing poverty from significant shocks. However, there has been little voluntary demand, which raises questions about whether microinsurance would be effective as a risk management tool. This article aims to pinpoint the elements that affect the demand for microinsurance among Bangladeshi women employed in the informal sector, who are particularly susceptible to a variety of economic risks. On a sample size of 829 from around the country, the authors have conducted a logit analysis and identified fourteen factors classified under four broad categories that affect microinsurance demand for marginalized women. The result of this study will advance the field’s understanding of building microinsurance products and regulatory frameworks that consider the needs of disadvantaged women and assist them in obtaining the social protection necessary to sustain them over the long term.

Keywords:
demand, determinant, microinsurance, women