Kiwanuka, A.; Sibindi, A.B. Digital Literacy, Insurtech Adoption and Insurance Inclusion in Uganda. J. Risk Financial Manag.2024, 17, 119.
Kiwanuka, A.; Sibindi, A.B. Digital Literacy, Insurtech Adoption and Insurance Inclusion in Uganda. J. Risk Financial Manag. 2024, 17, 119.
Kiwanuka, A.; Sibindi, A.B. Digital Literacy, Insurtech Adoption and Insurance Inclusion in Uganda. J. Risk Financial Manag.2024, 17, 119.
Kiwanuka, A.; Sibindi, A.B. Digital Literacy, Insurtech Adoption and Insurance Inclusion in Uganda. J. Risk Financial Manag. 2024, 17, 119.
Abstract
The purpose of this study is 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 demonstrate 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 generalisation of the study findings. This study’s novelty lies in establishing how digital literacy and insurtech adoption interplay 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
Subject
Business, Economics and Management, Finance
Copyright:
This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
