New Agricultural Insurance Research Reported from Universitas Padjadjaran (An Estimated Analysis of Willingness to Wait Time to Pay Rice Agricultural Insurance Premiums Using Cox’s Proportional Hazards Model): Agriculture – Agricultural Insurance

2022 NOV 28 (NewsRx) -- By a News Reporter-Staff News Editor at Insurance Daily News -- Researchers detail new data in agricultural insurance. According to news originating from the Universitas Padjadjaran by NewsRx editors, the research stated, “In this paper, we determined the factors that affect the waiting time of rice farmers’ willingness to pay the premium for the Rice Farming Insurance Program (RFIP) using survival analysis.”

Financial supporters for this research include Kementerian Pendidikan, Kebudayaan, Riset, Dan Teknologi, Republik Indonesia.

The news journalists obtained a quote from the research from Universitas Padjadjaran: “The survival analysis method was carried out using the Cox proportional hazard model with the Efron approach. The case study in this research is rice farmers in Cibungur Village, Parungponteng District, Tasikmalaya Regency. The results of the analysis show that the predictor variables that are significant to the waiting time of rice farmers’ willingness to pay the insurance premium for RFIP are their last education, other occupations, rice production, and farming costs.”

According to the news reporters, the research concluded: “The results of the research are expected to produce additional information for the government and implementers of rice farming insurance regarding the condition of farmers in the field, so that it can be improved in the future.”

For more information on this research see: An Estimated Analysis of Willingness to Wait Time to Pay Rice Agricultural Insurance Premiums Using Cox’s Proportional Hazards Model. Mathematics, 2022,10(3935):3935. (Mathematics - http://www.mdpi.com/journal/mathematics). The publisher for Mathematics is MDPI AG.

A free version of this journal article is available at https://doi.org/10.3390/math10213935.

Our news editors report that additional information may be obtained by contacting Yuyun Hidayat, Department of Statistics, Faculty of Mathematics and Natural Sciences, Universitas Padjadjaran, Sumendang 45363, Indonesia. Additional authors for this research include Sukono, Betty Subartini, Nida Khairunnisa, Aceng Sambas, Titi Purwandari.

(Our reports deliver fact-based news of research and discoveries from around the world.)