Abstract

The focus of this study was to assess the contribution of insurance services in the protection
of economic resources of production, taking SONARWA Insurance Company as a case study.
The study used a descriptive method whereby both qualitative and quantitative data were
sought. The target population consisted of managers in public companies, private
companies, semi-public companies, NGOs as well as individual clients who are experienced
and paid a considerable premium and also employees of Sonarwa General who are managers
and employees working in different departments. The total population came to 104 insured
clients including 25 staff respondents from Sonarwa General in Kigali City. Slovin’s formula
was used to calculate the sample size of 62 respondents of whom questionnaires were
distributed to them to receive their views. The researcher designed a special interview
schedule with insured clients using random sampling as well as top managers using
purposive sampling. The data analysis was done using tables generated from SPSS. It was
found that there was the effectiveness of insurance services in protecting economic
resources as 21.0% of respondents said that quick compensation is one of the elements that
make the insurance services of Sonarwa General very effective because the insured restart
quickly their activities and continue its course of productivity. On the impact of insurance
services from SONARWA on the sustainability of economic resources of the production of
insured, 33.9% said that insurance services protect economic resources through the
insurance of goods and properties, 17.7% for liability insurance, and 21.0% for financial
operations and bid bonds. On the development of various insurance products and provision
of opportunities to secure different types and categories of assets of the insured, 26 (41.9%)
of respondents agreed that SONARWA-developed services and products protect the resources
of the insured to about a tune of 61% to 80% risk protection against internal and external
threats to be able to protect the economic resources of production of its clients. In addition,
24.2% of respondents were contented with the way Sonarwa identified major risks that may
affect the economic resources of the insured so that it could establish appropriate ways to
properly protect the economic resources of the insured against probable risks.
Keywords: Insurance services, SONARWA, Insurance Companies, Economic resources,
Insured.