| dc.description.abstract | It is becoming obvious that, in order to stay competitive, the organizations across all industries must truly and fully embrace innovation: create innovation policies, strategies, processes and, most importantly, they need to establish a creative culture within the organization. The innovative organization does not need to have invented the new product or process they adopt. Innovation is as much about the way new ideas and products are brought to effect as it is about the uniqueness of the original concept. Product and process innovations are prime manifestations of innovativeness by an organization.
The objective of the study was to establish innovation processes within insurance industry in Kenya. The research design was a survey of all the insurance companies operating in Kenya. The study used primary data which was collected using a questionnaire. The data was summarized using descriptive measures, percentages and frequency distribution tables while tables and graphs will be used for presentation of findings.
The study established that the insurance companies have a common understanding in the innovation process which involves the whole organization and as they adopt both incremental and radical innovation and in order to be innovative the companies have put forward principles for managing innovation. The challenges which were encountered during the innovation process was impact of individuals, structure which guides the organizations flow of information, culture being practiced by the companies, the risk aversion of the firm directors and the availability of resources which were indicated as being insufficient | en_US |
