Information Systems and Performance of Insurance Firms in Nairobi County, Kenya
DOI:
https://doi.org/10.47604/ijts.2658Keywords:
Information Systems, Performance, Insurance IndustryAbstract
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.
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Copyright (c) 2024 Wanjohi Peter Ngari, Dr. Stephen Waithaka
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