Financial System Dynamics and Financial Performance of Insurance Companies in Kenya

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dc.contributor.advisorLucy Wamugo Mwangien_US
dc.contributor.authorMiriti, Mugambi Martin
dc.date.accessioned2024-02-02T09:07:03Z
dc.date.available2024-02-02T09:07:03Z
dc.date.issued2023-09
dc.descriptionA Research Project Submitted to the School of Business, Economics and Tourism in Partial Fulfilment of the Requirement for the Award of the Degree in Master of Business Administration (Finance) of Kenyatta University, September, 2023en_US
dc.description.abstractGlobally, the insurance industry has been faced by multiple challenges that threaten business profitability and survival. Increased competition for example impends the industry attractiveness and lessens profitability. This puts pressure on insurance providers to take the initiative and develop solutions that work well by taking proactive approach to changes that are both predicted and actual in the new market realities. Adapting to the new changes in market must correspond to company's strategic imperatives, whether they are to enhance customer experience or increase operational efficiency and profitability. The purpose of the study was to assess the effect of financial system dynamics on financial performance of insurance companies in Kenya. The study was guided by the following three specific objectives: to establish the influence of financial technology on financial performance of insurance companies in Kenya; to determine the effect of market information on the financial performance of insurance companies in Kenya and to assess the effect of new insurance products on the financial performance of insurance companies in Kenya. The study was conducted through explanatory research design. The study conceptualized a relationship between financial system dynamics and insurance performance through the theoretical lens of Adaptive Market Hypotheses and also guided by technology acceptance model, contingency and resource based as the underpinning theories. The study population comprised of 56 registered insurance companies as per IRA (2021). Since the population was small, a census was considered for this study. Primary data was collected by a semi-structural questionnaire sent through emails and hand delivery as secondary data was gathered for five years from 2017-2021 from Insurance regulatory authority and individual insurance companies and analysed by SPSS-2021 version, data was presented in tables and figures. Correlation results indicated weak association among all the study variables. Regression results revealed that financial technology have a significant effect on financial performance of insurance companies in Kenya. Market information was found to have significant but inverse effect on financial performance (p<0.05); findings indicated a statistically insignificant effect of new insurance products on the financial performance of insurers (p>0.05). Findings of this study are beneficial to managers and scholars by offering direction in the managerial practice, policy and contributing to theoretical discourse.en_US
dc.description.sponsorshipKenyatta Universityen_US
dc.identifier.urihttps://ir-library.ku.ac.ke/handle/123456789/27455
dc.language.isoenen_US
dc.publisherKenyatta Universityen_US
dc.subjectFinancial System Dynamicsen_US
dc.subjectFinancial Performanceen_US
dc.subjectInsurance Companiesen_US
dc.subjectKenyaen_US
dc.titleFinancial System Dynamics and Financial Performance of Insurance Companies in Kenyaen_US
dc.typeThesisen_US
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