Exploring Learning Journeys of Adults in non-life insurance: A Narrative Inquiry.

Abstract

This study investigates the learning experiences of adults engaged with non-life insurance in Nepal, focusing on how they understand insurance processes and products. Using a narrative inquiry approach informed by adult learning theory, the research explores the experiences of four urban participants who hold non-life insurance. Their stories reveal significant gaps in insurance literacy, including confusion about policy provisions, claim procedures, and risk assessment. Participants reported mistrust and frustration stemming from inadequately trained insurance agents, complex documentation, and unclear communication. Research shows that the majority of adults do not acquire knowledge about insurance through organized education or formal programs offered by insurance providers or industry organizations. Instead, they tend to depend significantly on informal channels such as friends, family, community connections, and personal experiences. While these informal methods allow individuals to become somewhat familiar with insurance products, they often do not deliver thorough understanding. Consequently, adults might not fully grasp the benefits of insurance, its long-term value, or aspects of risk management, which can ultimately impact their financial security, decision-making skills, and self-assurance. The study highlights the need for more than expanded non-formal education efforts. It argues for community-based learning initiatives grounded in behavioral insights and adult learning principles to strengthen trust and engagement. Approaches such as peer learning, practical demonstrations, and accessible digital resources in local languages can enhance understanding and credibility. Additionally, regulatory and educational reforms that promote ethics, transparency, and consumer protection are essential. Overall, improving insurance literacy is essential for strengthening financial resilience and promoting inclusive economic development in disaster-prone Nepal.