Thitivadee Chaiyawat Chulalongkorn Business School, Chulalongkorn University, Bangkok, ThailandEmail: firstname.lastname@example.org
Samrieng Mekkriengkrai School of Law, Sripatum University Khon Kaen, ThailandEmail: email@example.com
Supatra Phanwichit School of Law, Sukhothai Thammathirat Open University, ThailandEmail: firstname.lastname@example.org
The effectiveness of risk management through insurance holds pivotal significance across various sectors vulnerable to risks. This crucial facet necessitates heightened attention from researchers and regulatory bodies alike. Hence, the present study is dedicated to scrutinizing the influence of agricultural insurance legislation, digital technology integration, and public-private partnerships on the efficacy of risk management through insurance within Thailand's agricultural sector. In addition to exploring these main effects, the study extends its analysis to consider the moderating impact of government support within the interplay of agricultural insurance legislation, digital technology, public-private partnerships, and the effectiveness of risk management through insurance in Thailand's agricultural domain. To collect relevant data, the study engages employees from insurance companies associated with the agricultural sector through the administration of survey questionnaires. Furthermore, the study employs SPSS-AMOS to examine the associations amongst the constructs under investigation. The findings unveiled a positive correlation between Agri-insurance legislation, digital technology integration, public-private partnership, and the efficacy of insurance risk management in Thailand's agricultural sector. Additionally, the results illuminated that the involvement of government support significantly acts as a moderator among the variables of Agri-insurance legislation, digital technology, public-private partnership, and the effectiveness of insurance risk management within the agricultural sector of Thailand. These outcomes provide valuable guidance for regulatory bodies tasked with formulating policies pertaining to insurance risk management. It underscores the importance of employing robust Agri-insurance legislation and embracing digital technology to enhance the efficiency of risk management in the agricultural sector. Furthermore, the study highlights the pivotal role of government support in fortifying these efforts, emphasizing the synergy between effective policies and supportive governmental measures.
Keywords:Agri-insurance legislation, digital technology, public-private partnership, government support, effectiveness of insurance risk management, agricultural sector