Browsing by Author "BENJAMIN MAINA GITAU"

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    DIGITAL TRANSFORMATION AND ORGANISATIONAL PERFORMANCE OF GENERAL INSURANCE COMPANIES IN KENYA: A CASE STUDY OF CIC GENERAL INSURANCE COMPANY LIMITED
    (Management University of Africa, 2022-10) BENJAMIN MAINA GITAU
    The main purpose of the study was to establish the role of digital transformation in the organizational performance of the general insurance industry in Kenya with focus to CIC General Insurance. The researcher investigated Big Data Analytics, Internet of Things, Process Automation, and Artificial Intelligence on the performance of CIC general insurance company in Kenya. This study provides more information towards the status of digital transformation and performance in the insurance industry in Kenya and also helps policy makers in the insurance firms on areas to consider towards effectively improving the various aspects of digital transformation on their performance. The study validates previous research done in other markets or sectors and its similarities or differences in relation to the local insurance industry. The study was anchored on Resource-Based Theory, which explains the effect of utilization of available resources and their impact on the performance of an organization. Diffusion of Innovations theory as well as Dynamic Capability Theory supported the Study. The study used a descriptive research design. The study targeted 315 employees of CIC General Insurance Company. A stratified random sampling method was used where 65 respondents, representing 20% of the entire target population, formed the sample size of the study. The researcher used structured questionnaires to collect data from respondents. Statistical package for social sciences was used for data analysis to aid generation descriptive statistics and inferential statistics to help obtain results of multiple linear regression and ANOVA results. The study established that here was a linear and significant relationship between the four variables and the performance of the general insurance companies in Kenya. The four variables 57.3% of Digital Transformation. Digital Transformation was found to have a big impact on the overall performance of general insurance companies in Kenya. The study established that big data analytics contribute 21.8% of the Digital Transformation, 26.1% is as a result of the internet of things. Process automation influenced around 34.3% of the and artificial intelligence around 29.7% of the digital transformation. The study established that a company gathers and stores data from various sources, both internal and external. The study also found that big data analytics contributes to the minimization of fraud cases in claims. The study also found that IoT led to better risk assessment and that internet of things has enhanced better service quality. Likewise, the study established that process automation has reduced manual tasks in service delivery. Finally, the study found that artificial intelligence has enhanced better decision making and that artificial intelligence can lead to reduced claims cost management. The study also concluded that there was a linear relationship between big data analytics, the internet of things, process automation, artificial intelligence, and the performance of general insurance in Kenya. The study recommends that insurance firms should embrace big data analytics in their operational activities. To get insurance firms on the path to greater success in the area of big data management initiatives, there should be more emphasis on understanding where a company really is, where it needs to be, and how to start in order to improve its business value. The study recommends that insurance firms consider IoT as a tool for gaining competitive advantage in the insurance sector. On process automation, the study recommended that establishing business process automation requires one system that should be dependable and one that will increase productivity, performance, and reduce cost. It makes it possible for insurers to use machine learning, data modeling, and predictive analysis across the entire insurance value chain. This has led to a better bottom line and happier customers .