scholarly journals INFLUENCE OF DIFFERENTIATION STRATEGY ON PERFORMANCE OF THE INSURANCE COMPANIES IN KENYA

2021 ◽  
Vol 6 (4) ◽  
pp. 21-31
Author(s):  
Edwin Kubai ◽  
Patrick Karanja ◽  
Allan Kihara
Keyword(s):  
Competitive Advantage ◽  
High Performance ◽  
Insurance Industry ◽  
Descriptive Analysis ◽  
Scale Up ◽  
Insurance Companies ◽  
Primary Data ◽  
Sustainable Competitive Advantage ◽  
Differentiation Strategy ◽  
Market Experience

Purpose: Consistent high performance being their main objective, insurance companies are currently concentrating on development of strategies for ensuring enhanced sustainability and success. Differentiation strategy has recently received unprecedented attention as it enhances the capability of firms to expand, exploit emerging opportunities, manage threats and ultimately gain sustainable competitive advantage in today’s highly dynamic market. In Kenya, the present operational set up of the insurance industry is a dynamic one characterized with intense competition due to the presence of numerous insurance organizations selling diverse products and services. Major challenges include similarities in insurance products, differences in product valuations, increased brokerage, poor products’ perception and low quality of services provided by insurance firms. This study sought to establish the influence of differentiation strategy on performance of the insurance companies in Kenya. Specifically, the study aimed at determining the influence of strategy scope, products perception, value based services and market experience on insurance companies’ performance, with the ultimate goal of providing tangible solutions to exiting differentiation challenges in the industry and beyond. Methodology: Using semi-structured questionnaires, primary data was collected from 55 registered insurance companies in Kenya. Descriptive analysis was done using SPSS software, and inferential statistics including regression, correlation and ANOVA analysis were applied to establish the association between the dependent and the independent variables. Findings: The study found out that over 85% of the insurance companies had adopted the differentiation strategy at different magnitudes, which enabled development of products and services offering more value and great market experience, and were since enjoying enhanced competitive advantage. Unique Contributions to Theory, Practice and Policy: The study recommends that the insurance companies should scale up their differentiation by applying strong research and development skills, strong services and products engineering skills, strong creativity skills, good cooperation with distribution channels and strong marketing skills for remarkable performance.

Developing high performance work system for Indian insurance industry

2017 ◽  
Vol 66 (3) ◽  
pp. 320-337 ◽  
Author(s):  
Naval Garg ◽  
Bijender Kumar Punia
Keyword(s):  
Factor Analysis ◽  
High Performance ◽  
Rating Scale ◽  
Insurance Industry ◽  
Insurance Companies ◽  
Primary Data ◽  
Content Type ◽  
Work System ◽  
High Performance Work System ◽  
Structured Questionnaire

Purpose Modern age witnessed an exponential growth of high performance work practices (HPWPs) at workplace. This phenomenal increase in quest of performance excellence has fascinated both researchers and practitioners. The purpose of this paper is to develop a conceptual model of HPWPs for insurance companies of India. Design/methodology/approach A structured questionnaire comprising of 35 HPWPs with a five-point rating scale has been used. Model is based on two important paradigm of HR practices – employees’ awareness and perception for HPWPs. Factor analysis is followed by confirmatory factor analysis to build a model of HPWPs for insurance industry in India. Findings Of the 35 practices 17 get reduced to most applicable practices constituting high performance work system (HPWS) for insurance industry. The paper arrives at appropriate model of HPWPs. Research limitations/implications Paper has successfully developed model for insurance companies. Taking clue from findings, insurance practitioners could deal with various HR related challenges in their respective companies. Originality/value The paper uses primary data collected using structured questionnaire to develop HPWS.

scholarly journals THE NIGERIAN INSURANCE INDUSTRY COMPETITIVE ADVANTAGE: THE ROLE OF INNOVATION CAPABILITY

2021 ◽  
pp. 059
Author(s):  
Sunday Abayomi Adebisi ◽  
Joyce M. Odiachi ◽  
Abdul-Hammed A. Sulaimon
Keyword(s):  
Competitive Advantage ◽  
Insurance Industry ◽  
Sampling Technique ◽  
Insurance Companies ◽  
Primary Data ◽  
Innovation Capability ◽  
Cross Sectional ◽  
Insurance Sector ◽  
Multistage Sampling

Emerging technologies have given rise to greater opportunities within the insurance sector with innovations upturning the traditional business model. This study examined competitive advantage and the relationship with innovation capability in Nigerian insurance sector. Employing a cross sectional research design, the study utilised primary data obtained from selected insurance companies through the use of a structured questionnaire. Multistage sampling technique was used and data collected was analysed using regression analysis. The findings revealed innovation capability had a significant influence on competitive advantage. The study concluded that there was a need to pay attention to this capability with a capacity to boost the activities of the industry and recommendations were made.

scholarly journals The Impact of Dynamic Capabilities on Sustainable Competitive Advantage in the Pharmaceutical Sector in Egypt

2017 ◽  
Vol 6 (2) ◽  
pp. 1
Author(s):  
Albert Naiem Naguib ◽  
Eahab Elsaid ◽  
Abdel Moneim Elsaid
Keyword(s):  
Competitive Advantage ◽  
Dynamic Capabilities ◽  
Secondary Data ◽  
Primary Data ◽  
Sustainable Competitive Advantage ◽  
Firm Characteristics ◽  
Pharmaceutical Sector ◽  
Chi Square ◽  
Pharmaceutical Firms ◽  
The Impact

This study examines the relationship between dynamic capabilities (experience, routine, skills, firm characteristics, knowledge and technology) and competitive advantage sustainability in the Egyptian pharmaceutical sector. The data was collected using primary and secondary data sources. Primary data was collected from questionnaires distributed to 160 top managers in 20 pharmaceutical firms. The secondary data about pharmaceutical firms like rankings, revenues and market share was collected from external sources such as Intercontinental Marketing Service (IMS). The questionnaires examine six independent variables based on a five-scale Likert scale. The methodology used in the study is non-probability sampling (judgmental sampling), Cronbach’s alpha reliability coefficient and Chi-square tests. The results support the notion that there is a significant relationship between four of the six dynamic capabilities (experience, skills, firm characteristics and knowledge) and the competitive advantage sustainability for pharmaceutical firms in Egypt. Designing the questionnaire and formulating the questions to target the required field was challenging, given that the topic is dynamic and the business scene in Egypt has witnessed drastic political changes since January 2011. The study should assist pharmaceutical companies in Egypt in directing their investments properly and in determining the weaknesses in their dynamic capabilities that need to be addressed.

Poor Claims Settlement And Demand For Insurance Policies In Nigeria

2021 ◽  
Vol 8 (4) ◽  
pp. 53-64
Author(s):  
Omowumi Ayoni Momoh ◽  
Oyefemi Ismail O. Oyetunji
Keyword(s):  
Insurance Industry ◽  
Insurance Companies ◽  
Primary Data ◽  
Demand For Insurance ◽  
Insurance Policies ◽  
Chi Squared ◽  
Insurance Firms ◽  
And Control ◽  
Structured Questionnaire

This study investigates the poor claims settlement and demand for insurance policies in Nigeria to provide empirical evidence which would assist not only the insurance companies but also the policymakers by using these findings to design future insurance services and policies that can be geared towards promoting insurance market development. The population focused in the study included few licensed insurance firms in Nigeria. This is due to the fact that they dominate and control the larger interest in the market share. Primary data was used for this study through well-structured questionnaire. Chi- squared statistics and correlation with the tabulated contingency table on the basis of an assumptions were employed. The results show that poor claim settlement has significant effect on demand for Insurance policies in Nigeria and that there is long term and significant relationship between poor claim settlement and demand for insurance policies in Nigeria. The study therefore, recommends that insurance industry should be redefined through appropriate Acts, introducing competitions and innovations in the services so as to compete effectively and meet consumer needs by dealing with changing expectations of policyholders so as to ensure that satisfaction of all the parties are guaranteed.

The Impact of MCAST Apprentices on Insurance Companies Operating in Malta - A Manager’s Perspective

2021 ◽  
Vol 5 (1) ◽  
pp. 127-153
Author(s):  
Joseph Schembri
Keyword(s):  
High Performance ◽  
Insurance Industry ◽  
Learning Experience ◽  
Cost Effective ◽  
Research Problem ◽  
Insurance Companies ◽  
Skilled Workers ◽  
Structured Interviews ◽  
Insurance Firms ◽  
The Impact

This study probes the MCAST insurance apprenticeship scheme and the impact of apprentices on the local insurance companies, acting as sponsors. This study is of particular relevance since the local insurance firms are experiencing growth but have the challenge of employee turnover and skills shortage. This research study investigates the work-based learning experience of students, the mentoring of apprentices and the supervising procedures adopted by MCAST and the insurance firms. The purpose is to analyse the impact of MCAST trainees on local insurance firms and depict practical recommendations to ameliorate the learning experience of the apprentices. The recommendations emanating from this study, assist MCAST to develop high-performance apprenticeship schemes and assist the local insurance industry, in the recruiting and training of young employees. This qualitative research gathers data through nine in-depth, semi-structured interviews and adopts the Grounded Theory Methodology to address the research problem and attain the stated objectives. The researcher adopts the constructivist approach incorporating an inductive and abductive stance. The findings emanating from the data illustrate the need to promote the insurance industry as a provider of stable and fulfilling careers with the possibility of job mobility. MCAST and the insurance firms need to enhance their collaboration to promote the insurance apprenticeship, among young learners, even at secondary level. An overhaul of the mentoring and supervising approach is needed to provide a work-based learning experience of excellence to MCAST apprentices. MCAST apprenticeship is considered by the insurance executives as the best training opportunity to recruit skilled workers and create networks. The scheme is cost effective to the firms and is considered as a long-term investment in human resources. A well-planned strategy to enhance collaboration and share knowledge between the leading VET provider of the Maltese Islands and the insurance industry is required for the benefit of the apprentices who are the future employees of the local insurance firms.

Human Capital And The Use Of Information Technology To Enhance Sustainable Competitive Advantages

2020 ◽  
Vol 8 (6) ◽  
pp. 239-249
Author(s):  
Nurul Hidayah ◽  
Ahmad Badawi ◽  
Lucky Nugroho ◽  
Moetopo
Keyword(s):  
Information Technology ◽  
Human Capital ◽  
Competitive Advantage ◽  
Model Test ◽  
Test Validity ◽  
Primary Data ◽  
Coefficient Of Determination ◽  
Sustainable Competitive Advantage ◽  
Validity And Reliability ◽  
Inner Model

This study aims to determine the effect of human capital and the use of information technology on the competitive advantage of Sharia banking. The study takes an analysis unit of Indonesia Sharia banking. The type of data used is primary data using a questionnaire which sampling used is a stratified random sampling model where respondents in this study consist of leaders and employees in Sharia banking. This research uses desciptive qualitative approach. Data analysis used PLS consisting of Outer Model test (Validity and Reliability) and Inner Model test (coefficient of determination and T test). The results show that human capital has no significant effect and the use of information technology has a significant effect on the sustainable competitive advantage of Sharia Banking.

scholarly journals Influence of TQM on increasing sustainable competitive advantage with transformational leadership as a mediation variable

2022 ◽  
Vol 10 (8) ◽  
pp. 100-106
Author(s):  
Munawar Muchlish ◽  
Mazda Eko Sri Tjahyono
Keyword(s):  
Transformational Leadership ◽  
Competitive Advantage ◽  
Test Equipment ◽  
Primary Data ◽  
Sustainable Competitive Advantage ◽  
Significant Positive Effect ◽  
Mediation Effects ◽  
Purposive Sampling ◽  
The Impact ◽  
Positive Effect

The objective of this study was to determine and analyze the impact of TQM, Transformational Leadership (TL), and Executive Ability (EA) on improving sustainable competitive advantage (SCA) in MSMEs in Banten Province based on local leading potential. The method of distributing questionnaires is used in this study to collect primary data. This study's population consisted of all owners and managers of MSMEs in Banten Province. In contrast, the sample in this study is formed of the owners and managers of MSMEs of Local Leading Potential in Banten Province. Purposive sampling was being used in the study, as well as Warp PLS V. 7.0 and SPSS Version 25 test equipment. The findings of this study were as follows: (1) TQM had a significant positive effect on TL and SCA, but not on EA. (2) TL has a statistically significant positive effect on SCA and EA. (3) EA has a statistically significant positive effect on SCA. (4) TL mediates the effect of TQM on SCA and TQM on EA, and (5) EA does not mediate the effect of TQM on SCA. VAF (Variance Accounted For) has been used to calculate mediation effects.

EFFECTIVENESS OF ‘ON THE JOB TRAINING METHOD - JOINT FIELD WORK’ FOR COMPETITIVE PERFORMANCE

2020 ◽  
pp. 63-71
Author(s):  
C. Gangadhar ◽  
Dr. B. R. Megharaj
Keyword(s):  
Life Insurance ◽  
Job Training ◽  
Insurance Industry ◽  
Private Life ◽  
Insurance Companies ◽  
Primary Data ◽  
Work Place ◽  
Training Methods ◽  
Competitive Performance ◽  
On The Job Training

The aim of training and orientation is to make the employees understand what to do and how to do. Orientation provides the employee with the information on company rules which are to be needed to get emotionally attached with the work place. It aims at making them to feel at home, introduces the work behaviour expected, helps to understand the organization as a whole and to socialize with the organizations culture, people etc. The insurance sector plays a very crucial role in the economy of any country – it increases avenues for savings of individuals, protects the future of individuals and spreads risks of institutions by forming a large pool of fund. The sector also contributes significantly to the capital markets and assists in large capital infrastructure developments of our country through their funds. Review of related literature in the area of life insurance services, products, private life insurance companies, awareness about insurance policies, perception of the policy holders, buying behaviour of the policy holders and policy holder satisfaction had been made by the researcher to establish validity of the research on Training Methods like On the job training, Off the job training and combination training in insurance industry. The present research is descriptive and conclusive, involving illustration and explanation descriptively followed by conclusions based on findings. It encompasses “Training Methods for Competitive Performance” (A study with reference to SBI Life, Andhra Pradesh). Primary data gathered by questionnaires form the empirical base which undergoes Statistical processing leading to findings. Findings are then transformed into suggestions and conclusions with inputs from the researcher’s academic experience. KEY WORDS: Insurance, Training, perception, On the job training, Competitive Performance

EFFECTIVENESS OF ‘ON THE JOB TRAINING METHOD - PRESENTATION SKILLS IN WORKSHOP’ FOR COMPETITIVE PERFORMANCE

2020 ◽  
pp. 54-62
Author(s):  
C. Gangadhar ◽  
Dr. B. R. Megharaj
Keyword(s):  
Life Insurance ◽  
Job Training ◽  
Insurance Industry ◽  
Private Life ◽  
Insurance Companies ◽  
Primary Data ◽  
Work Place ◽  
Training Methods ◽  
Competitive Performance ◽  
On The Job Training

The aim of training and orientation is to make the employees understand what to do and how to do. Orientation provides the employee with the information on company rules which are to be needed to get emotionally attached with the work place. It aims at making them to feel at home, introduces the work behaviour expected, helps to understand the organization as a whole and to socialize with the organizations culture, people etc. The insurance sector plays a very crucial role in the economy of any country – it increases avenues for savings of individuals, protects the future of individuals and spreads risks of institutions by forming a large pool of fund. The sector also contributes significantly to the capital markets and assists in large capital infrastructure developments of our country through their funds. Review of related literature in the area of life insurance services, products, private life insurance companies, awareness about insurance policies, perception of the policy holders, buying behaviour of the policy holders and policy holder satisfaction had been made by the researcher to establish validity of the research on Training Methods like On the job training, Off the job training and combination training in insurance industry. The present research is descriptive and conclusive, involving illustration and explanation descriptively followed by conclusions based on findings. It encompasses “Training Methods for Competitive Performance” (A study with reference to SBI Life, Andhra Pradesh). Primary data gathered by questionnaires form the empirical base which undergoes Statistical processing leading to findings. Findings are then transformed into suggestions and conclusions with inputs from the researcher’s academic experience. KEY WORDS: Insurance, Training, perception, On the job training, Competitive Performance

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