THE EFFECTS OF BANCASSURANCE ON THE FINANCIAL PERFORMANCE OF SELECTED INSURANCE COMPANIES IN KENYA

  • Type: Project
  • Department: Banking and Finance
  • Project ID: BFN2339
  • Access Fee: ₦5,000 ($14)
  • Pages: 65 Pages
  • Format: Microsoft Word
  • Views: 165
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ABSTRACT



Financial performance of insurance companies has been declining due the decrease in profitability
as a result of the rise in competition, changes in technology, deregulation and as well as
globalization. The collaboration between insurance companies and financial institutions to
distribute or cross-sell insurance products, through Bancassurance which provides a one-stop-shop
platform whereby customers can access insurance services among other financial solutions, is the
only platform to stabilize this industry in Kenya. The objective of this study was to assess the
effects of bancassurance on the financial performance of selected insurance companies in Kenya.
The specific objectives were to determine the effect of: insurance penetration, financial integration
and innovation of product and services on financial performance of selected insurance companies
in Kenya. The researcher adopted descriptive cross sectional research design, with a target
population of six selected (Jubilee Holding Limited, Britam Holding, CIC Insurance Group, Kenya
Re-insurance, Liberty Kenya Holding and Pan Africa Insurance). Purposive Sampling design was
adopted in the study. Data was instrumented through a questionnaires, the use of both primary and
secondary data is setting of this study. The use of descriptive statistic in collaboration with a
multiple regression model and correlation analysis were conducted; this was conduct via use of
with Statistical Package for the Social Sciences (SPSS). Finally the data was presented on graphs,
tables and pie charts. The study found a strong and positive relationship bancassurance
implementation and financial performance of insurance companies in Kenya. The specific
objective; insurance penetration had a positive correlation with financial performance, while
financial integration had low correlation relationship with financial performance of the insurance
companies and finally innovation of products and services component of bancassurance have
above average relation with financial performance of in insurance companies. The
recommendation: Insurance penetration, financial integration and innovation products and services
have a statistical significant level of bancassurance influence on financial performance. This
requires insurance companies, to enhance and strengthen their partnership with commercial banks
through regulatory change, centralized marketing policies, and common research development.
THE EFFECTS OF BANCASSURANCE ON THE FINANCIAL PERFORMANCE OF SELECTED INSURANCE COMPANIES IN KENYA
For more Info, call us on
+234 8130 686 500
or
+234 8093 423 853

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  • Type: Project
  • Department: Banking and Finance
  • Project ID: BFN2339
  • Access Fee: ₦5,000 ($14)
  • Pages: 65 Pages
  • Format: Microsoft Word
  • Views: 165
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    Details

    Type Project
    Department Banking and Finance
    Project ID BFN2339
    Fee ₦5,000 ($14)
    No of Pages 65 Pages
    Format Microsoft Word

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