The perception of market women in Ghana on insurance companies

The aim of the paper is to contribute to the body of knowledge in the area of insurance marketing by examining the perception of market women of insurance companies using subjective responses of respondents in a survey. The study is quantitative and descriptive in nature. The target population is the market women in Sunyani Township dealing in all types of products. The sample size is 100, selected through convenience sampling methods. Primary data collection is based on self-designed questionnaire, administered at their work places using research assistants. The results are analysed using percentages, frequencies and One-Way Analysis of Variances (ANOVA) and results presented in Tables. The findings indicate that respondents do not have strong knowledge level of insurance products. The perception of respondents of the insurance companies is not favourable since respondents are of the view that claims are not paid promptly in times of need. Insurance premium is considered as high for respondents. Marketers in insurance industry should incorporate the findings into their marketing strategies in order to attract potential customers. Future studies should look at causal studies using larger sampling size in other communities.