Taking out life insurance in Cameroon: analysis of household resistance factors

Abstract

The main objective of our research is to analyse the factors that explain customers' resistant behaviour when taking out life insurance in Cameroon. Our study therefore uses a quantitative approach. Our sample is made up of 303 insurance company customers interviewed in the cities of Yaoundé and Douala. The inferential statistical analysis will use multiple linear regression preceded by principal component analysis (PCA) to extract the dimensions of the variables used in our research. The econometric manipulations by the OLS method through the use of the STUDENT test and the FISHER test provide information on the individual and global significance of the parameters of the multiple linear regression model in order to evaluate the influence of the independent variables extracted from the PCA on the resistant behaviour of clients in subscribing to life insurance in Cameroon. At the end of our investigations in the field, we found that economic and socio-cultural factors strongly explain the resistant behaviour of consumers to taking out life insurance in Cameroon. To overcome these obstacles, it is essential to set up targeted awareness campaigns, improve the transparency of insurance offers and strengthen trust between insurers and consumers. In addition, initiatives to integrate life insurance into financial education programmes could also promote a better understanding of its benefits.

Keywords: life insurance, resistant behaviour, ACP, MRLM, MCO, STUDENT, FISHER

EL Classification: D12 C10 G22

Paper type: Empirical research