dc.contributor.author | Njeru, Jane Njoki | |
dc.contributor.author | Mbebe, James | |
dc.contributor.author | Munga, Jane | |
dc.date.accessioned | 2023-07-28T09:59:13Z | |
dc.date.available | 2023-07-28T09:59:13Z | |
dc.date.issued | 2019-09 | |
dc.identifier.citation | Njeru, J. N., Mbebe, J. & Munga, J. (2019). Effect of bancassurance on performance of insurance companies in Kenya. International Academic Journal of Human Resource and Business Administration, 3(6), 333-353 | en_US |
dc.identifier.uri | http://repository.kemu.ac.ke/handle/123456789/1546 | |
dc.description.abstract | The most significant changes in the
economic services segment have been
growth of bancassurance which denotes
supply of insurance products through
effective process of banking channels. With
the liberalization of the assurance sector and
opposition is tougher than ever before,
companies are increasingly trying to come
out with better innovations to stay in front.
Most insurance firms in Kenya have
established bancassurance to be an attractive
and often gainful commendation to their
core business. There is great prospect for
expansion and increase of bancassurance in
Kenya; however, bancassurance in Kenya is
pretty low. The main objective of this study
was to establish the effect of bancassurance
on performance of insurance companies in
Kenya. This study sought to achieve the
following objectives; to establish the effect
of products or services type on performance
of insurance companies in Kenya; to assess
the effect of administration-economies of
scale on performance of insurance
companies in Kenya; to examine how
customer lifecycle management of scale
affect performance of insurance companies
in Kenya and to determine the effect of sales
promotion tool on performance of insurance
companies in Kenya. This study was
anchored on innovation theory, modern
portfolio theory and the dynamic capabilities
theory. A descriptive survey research design
was applied in this study. The study
intended to target 506 management staff
who were drawn from the 55 listed
insurance companies in Kenya. This study
intended to collect data from all the 112
management staff of insurance companies in
Kenya. The study used stratified random
sampling technique to select the respondents
for the sample size. Primary data was
obtained using self-administered
questionnaires. The study instruments were
distributed among the targeted respondents
using various points of reference like the
managers of departments. Data analysis was
done using Statistical Package for Social
Scientists (SPSS) computer software. The
qualitative data was coded thematically and
then analyzed statistically. Content analysis
was used for data that is qualitative nature or
aspect of the data collected from the open
ended questions. The information was
displayed by use of tables, graphs and in
prose-form. The study revealed that products
or services type affect performance of
insurance companies in Kenya greatly. The
study further showed that performance of
Insurance companies in Kenya is boosted by
enhanced value and distribution channel
optimization very greatly. The study found
that the customers trust and convenience
enhanced the performance of Insurance
companies in Kenya very greatly. The study
found that sales promotion tool affected
performance of insurance companies in
Kenya greatly. The study concluded that
Products or Services Type had the greatest
effect on the performance of insurance
companies in Kenya, followed by Customer
Lifecycle Management, then Sales
Promotion Tool and finally Administration-
Economies of Scale had the least effect. The
study recommends that the insurance
companies should ensure that customer-
orientation through understanding the
market and directing the resources of the
company towards achieving the desires and
the needs of the customers and measuring
the ability to provide a value for the
customer. The study further recommends
that insurance companies’ managers should
weigh carefully their marketing promotion
strategies and align them to their objectives
adapting a suitable mix of the promotion
tools. | en_US |
dc.language.iso | en | en_US |
dc.publisher | International Academic Journal of Human Resource and Business Administration (IAJHRBA) | en_US |
dc.subject | Bancassurance | en_US |
dc.subject | Performance | en_US |
dc.subject | Insurance companies | en_US |
dc.subject | Products or services type | en_US |
dc.subject | Administration | en_US |
dc.subject | Economies of scale | en_US |
dc.subject | Customer lifecycle management | en_US |
dc.subject | Sales promotion tool | en_US |
dc.title | EFFECT OF BANCASSURANCE ON PERFORMANCE OF INSURANCE COMPANIES IN KENYA | en_US |
dc.type | Article | en_US |