| dc.description.abstract | The main objective of this study was to identify responses of Jubilee Insurance to the
changing environmental conditions. The study also sought to determine the forces of
change in the external environment of Jubilee. This study was occasioned by the
realization that Jubilee Insurance has been experiencing environmental turbulence such as
rapid political, economic, technological and socio-cultural changes. Also, little research
has been undertaken in this area. The few researches done for example those of Mriti
(2010) on responses by Fidelity Insurance to the changing environment and Keranga
(2009) on responses by Government of Kenya Press to the external environment were
never exhaustive. This study adopted a case study approach of the Jubilee Insurance firm.
Data was collected by using an interview guide. The researcher himself interviewed all
the top ten managers of Pensions, Finance, Human resource, Business Development,
Operations, Marketing, Public Relations, ICT, Legal and Underwriting departments. Data
was analyzed by content analysis. The study findings indicate that the Jubilee Insurance
faced challenges in terms of increased competition, changes in customer tastes and
preferences, technology and economic changes. The study findings identified various
response strategies by Jubilee Insurance. These included generic strategies of cost
leadership, differentiation and focus. Strategic leadership was identified as the most
important Strategic response by jubilee insurance. Other responses included product
diversification, market development and use of modern technology as well as the use of
marketing strategies like improved distribution and fair pricing. The findings of the study
imply that Jubilee Insurance should invest more in R&D, Innovations and the creation of
a learning culture. The study faced constraints of lack of enough time, resources and
unwillingness of the interviewees to give the correct responses. It is hoped that the
findings of this study will be of great value to various groups like other industry players,
the Jubilee management and scholars. Given the limitations, the researcher did not fully
cover the objectives set out and therefore recommends that further research be done on
the nature of competition posed by Jubilee Insurance’s other markets outside Kenya and
the role of strategy in the growth of Jubilee Insurance business. | en |
