Competition reduces profitability: the case of the Indian life microinsurance industry

Banerjee, Subrato; Basri, Savitha

doi:10.1057/s41288-020-00203-5

Cited by 11 publications

(6 citation statements)

References 59 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…Volume 7, Number 6 such as India and Bangladesh (Banerjee & Savitha, 2021;Swazan, & Das, 2022). The results of the impact model implementation were the expansion of the market share, the enhancement of customer retention, and the improvement of profitability for this organization.…”

Section: The Impact Model: a Catalyst For Transformationmentioning

confidence: 99%

Rethinking Disruptive and Social Innovation: The Impact Model

Sayyadi

2023

MBR

View full text Add to dashboard Cite

The leadership literature often emphasizes innovation coupled with disruption as a source of competitive advantage based on the assumption that, without it, organizations constrain social progress in organizations. We identify a new model that comprehensively considers not only disruptive innovation but also the social impact of future decision-making. We create a comprehensive framework which we call the impact model. There is a lack of an effective model that can support internal entrepreneurs in their social innovation. This new model fills the gap, taking organizations in the direction of training internal entrepreneurs, thus known as intrapreneurs, to start initiatives that affect society and ensure their survival in diversity, equity, and inclusion (DEI). Organizations cannot innovate without taking into concern diversity, equity, and inclusion. On the other hand, diversity, equity, and inclusion should not be tantamount in place for innovation. Organizations must address diversity, equity, and inclusion as they innovate and evaluate what becomes disruptive for both a product and social concern.

show abstract

Section: The Impact Model: a Catalyst For Transformationmentioning

confidence: 99%

Rethinking Disruptive and Social Innovation: The Impact Model

Sayyadi

2023

MBR

View full text Add to dashboard Cite

show abstract

“…Johnson et al (2019) emphasize that differentiation, particularly through innovation, creates a barrier for competitors, making imitation expensive. Focusing on customer-centric differentiation is considered cost-effective compared to reactive strategies, making it a compelling choice for improving organizational performance in the highly competitive business environment (Banerjee & Savitha, 2021). As such, the adoption of a differentiation strategy is seen as effective in navigating the complexities of today's business landscape.…”

Section: Background Of the Studymentioning

confidence: 99%

“…Distribution differentiation explores innovative methods and approaches to product delivery, further setting the company apart from competitors (Hamal, 2020). Image differentiation revolves around building a strong and positive brand image through effective branding and marketing strategies (Banerjee & Savitha, 2021). The multifaceted nature of these differentiation dimensions underscores their role in creating a unique value proposition, fostering customer loyalty, and ultimately contributing to enhanced organizational performance in the competitive business environment.…”

Section: Background Of the Studymentioning

confidence: 99%

Differentiation Strategy and the Performance of Medical Insurance Companies in Kenya

Kimani,

Kungu

2024

jbmed

View full text Add to dashboard Cite

Against a backdrop of escalating global competition, health insurance firms grapple with the need to stand out amidst a saturated market. The study recognizes the imperative for organizations to adopt differentiation strategies, with a focus on product, personnel, distribution, and image differentiation. Acknowledging the current dearth of comprehensive research in the Kenyan context, the research problem centres on the critical need to investigate the extent to which differentiation strategies influence the performance of health insurance companies in the region. The general objective of the study was to investigate the effect of differentiation strategy on performance of Health Insurance Companies in Kenya. Drawing on established theories such as Porter's Competitive Advantage Model, Upper Echelons Theory, Resource-Based View, and Transaction Cost Economics, the study employs a multi-theoretical framework to provide a nuanced understanding of the complex relationships between differentiation strategies and organizational outcomes. Adopting the descriptive research design, the target population comprises 980 employees in the medical insurance firms in the top management and middle level management in Nairobi, drawn from the respective insurance firms’ Human Resources Departments. Employing a multi-stage sampling technique, the established sample size is 101 top and middle level management staff who were reached by stratified random sampling. A semi-structured questionnaire was the main data collection instrument and was distributed through a drop-and- pick- latter approach. Data was analyzed using both descriptive and inferential statistics. Descriptive statistics measures of mean and standard deviation was used, while for inferential statistics, regression equations were employed. The study established that product differentiation strategy, personnel differentiation strategy, product differentiation strategy and image differentiation strategy had a positive significant effect on performance of health insurance companies in Kenya. The study concludes that product differentiation is the key aspect distinguishing one company’s products or services from its competition. Personnel differentiation strategy gives an organization the ability to respond in time to the needs of their members through the skills and knowledge of employees. A differentiated distribution strategy allows insurance companies to expand their sale potential by getting their product in front of more potential customers. An effective image establishes the product's character and value proposition and a person responds differently to company and brand images. The study recommends that the insurance companies should consider opportunities for differentiation in all of its production areas: marketing, product management, engineering, sales, and customer support. Organizations looking to build personnel differentiation strategy will need to produce or design extremely unique or distinctive products or services that create increased value for the consumer. The insurance companies should devote resources to channel management preferably at least one dedicated manager whose sole responsibility is to manage those relationships and build the marketing programs to drive revenue through the channel. The insurance companies should identify their brand gaps, which are the discrepancies between their desired and actual brand performance.

show abstract

“…The acceptance rate has been somewhat higher than two years ago, thanks mainly to the high quality of submissions. The authors have used a wide range of methodologies: from empirical analysis based on surveys (Akomea-Frimpong et al 2021 ) to aggregated data (Tiemtore 2021 ), panel data based on more extensive empirical or experimental research (Banerjee and Savitha 2021 ), as well as logit (Cai et al 2021 ) or probit regressions (Alhassan and Magazi 2021 ). Also, we included conceptual frameworks (Yan and Faure 2021 ) and an intensity‑based semi‑parametric multivariate recurrent event model (Zhang et al 2021 ).…”

mentioning

confidence: 99%