Information Systems and Performance of Insurance Firms in Nairobi County, Kenya
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Date
2024-06
Authors
Wanjohi, Peter Ngari
Waithaka, Stephen
Journal Title
Journal ISSN
Volume Title
Publisher
IPRJB
Abstract
Purpose: The goal of the study was to ascertain how
information systems influenced the insurance industry's
performance in Nairobi County, Kenya.
Methodology: This study employed a descriptive
research design. The respondents were drawn from all 58
insurance firms in Kenya as listed by Insurance
Regulatory Authority (2023). The study sample
comprised of five senior management officer from each of
the target population of 58 insurance companies in Kenya.
Stratified sampling procedure was applied to select the
subjects of study based on geographical location in
Nairobi County. Data collection was done using structured
questionnaires. The questionnaire had both open-ended
and closed-ended questions. Descriptive and inferential
statistics were employed in the study to analyze the data.
The coding and analysis were performed using SPSS
version 21, and the results were shown as tables.
Findings: The study concludes that technical factors have
a positive and significant impact on Nairobi County
insurance businesses' performance. The study discovered
that the performance of insurance companies in Nairobi
County is influenced by information system compatibility,
confidentiality, ease of use, and reliability. the study
comes to the conclusion that Nairobi County's
environmental features significantly and favorably affect
the performance of insurance companies. The study found
that the performance of insurance companies in Nairobi
County is influenced by competition, industry size, and
pressure from suppliers and customers. Additionally, the
study concludes that organizational factors have a positive
and significant impact on Nairobi County insurance
companies' performance. The study discovered that
supplier and consumer pressure, industry size, and
competition all had an impact on Nairobi County's
insurance companies' performance. Resources factors
encompassing availability of financial, human, and
technological resources were established as the most
influential component of the information systems with
regard to performance of the insurance firms.
Unique Contribution to Theory, Practice and Policy:
The study was ancored on Technology Acceptance Model
(TAM). The study also recommends that management
should allocate financial resources strategically, focusing
on areas that directly contribute to business growth, such
as marketing, technology upgrades, and talent acquisition.
In addition, management should ensure efficient use of
financial, human and technology resources by closely
monitoring expenses, avoiding unnecessary costs, and
seeking opportunities for cost-saving measures.
Description
Article
Keywords
Information Systems, Performance, Insurance Industry
Citation
Wanjohi, N., & Waithaka, S. (2024). Information Systems and Performance of Insurance Firms in Nairobi County, Kenya. International Journal of Technology and Systems, 9(2), 1–20. https://doi.org/10.47604/ijts.2658