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International Journal of Management and Leadership
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International Journal of Management and Leadership Studies
2022; 4(ii): 8
ISSN: 2311 7575
EFFECT OF PROCESS AUTOMATION ON PERFORMANCE OF GENERAL INSURANCE COMPANIES IN KENYA: A CASE STUDY OF CIC GENERAL INSURANCE COMPANY LIMITED
Gitau, B. M , Kanyanjua, D
Published: 02 May, 2022 Volume: 4 Issue: ii
Keywords: EFFECT OF PROCESS AUTOMATION ON PERFORMANCE OF GENERAL INSURANCE COMPANIES IN KENYA: A CASE STUDY OF CIC GENERAL INSURANCE COMPANY LIMITED
The main purpose of the study was to investigate process automation and its effect on the performance of general insurance companies in Kenya with the case study being CIC General Insurance company Ltd. The Insurance Industry in Kenya has been making underwriting losses in the last several years. CIC General has not been an exception in making underwriting losses. The objective of the study was to establish whether process automation would have a positive impact if implemented towards improving the performance of Insurance companies. The Study was anchored on Diffusion of Innovations theory as developed by E.M. Rogers in 1962, which seeks to clarify how, why, and in what proportion new ideas or technologies spread. The study used a descriptive research design. The study targeted 315 employees of CIC General Insurance Company across all the departments. 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 the sampled respondents. Statistical package for social sciences was used for data analysis to help in generation of descriptive statistics and inferential statistics, obtain results of multiple linear regression and ANOVA results. The study data was presented using figures, and tables. The study established that process automation influence digital transformation in general insurance company’s performance. The study established that process automation has reduced manual tasks in service delivery. The study concludes that there was a linear relationship between process automation, and the performance of general insurance companies in Kenya. The study recommends that establishing process automation requires one system that should be dependable and one that will increase productivity, performance, and reduce cost. This study gives more information towards understanding the status of Digital Transformation and as well aid policy makers in the insurance firms on areas to consider for effective Digital Transformation in improving the various aspects of their performance.
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