1. Farmers' preference of agricultural insurance product's attributes in Pati Regency.
- Author
-
Prastiwi, Wahyu Dyah, Dalmiyatun, Tutik, and Roessali, Wiludjeng
- Subjects
- *
AGRICULTURAL insurance , *PRODUCT attributes , *INSURANCE policies , *INSURANCE premiums , *AGRICULTURAL technology , *AGRICULTURAL development - Abstract
Agricultural insurance as a strategy in agricultural risk management mechanism has been introduced to paddy farmers in Indonesia for the last recent years. This strategy proves important to provide protection and easiness to bear the risk of farmingfor farmers. Personal interviews with a structured questionnaire were conducted with paddy farmers who joined an agricultural insurance called Asuransi Usaha Tani Padi (AUTP) program in Pati Regency to determine their preference to the product's attributes. Conjoint analysis was utilized to determine the importance of selected attributes of such insurance policies for these farmers. Research found that the premium insurance cost attribute is the most important factor and coverage attribute is the least important one. The results showed that the preference's utility of premium cost more than IDR180000, coverage less than 1 year, compensation of crop failure greater than 75% land area, and claim process more than 14 working days are the best option accordingto AUTP participants. This paper underlines the importance of designing premium cost and its subsidy to fully support the development of agricultural insurance. [ABSTRACT FROM AUTHOR]
- Published
- 2023
- Full Text
- View/download PDF