Strategy and performance of British American insurance company Kenya limited
Abstract
As at the time of study there are 51 Insurance Companies Registered and licensed by the
Insurance Regulatory Authority. With the current and recurrent environmental uncertainty, chaos
and turbulence with which every organization has to interact with for survival, many Insurance
companies have found it hard to survive on the basis of their historical strength that worked for
them in the previous stable environment. Studies carried out all over the world indicate that both
the private and public sectors are increasingly resorting to strategy formality to cope with the
increasing environmental changes and to exploit opportunities presented by the environment to
realize improved performance. Strategy being the link between the organizations and the
environment within which they operate. British American Insurance Company Kenya Limited
just like any other organization is affected by the turbulence in the environment as it too has to
interact with the environment for survival. To this end, Britam has adopted specific strategies to
achieve targeted performance. The study examined the relationship between strategies adopted
and performance at Britam .Primary data was collect through use of Interview Guides and
secondary data was extracted from existing published and unpublished records such as The
Association of Kenya Insurers and Insurance Regulatory Authority Annual Publications,
Articles, related Journals, Electronic data and the company’s audited Financial Statements. The
data collected was analyzed through the Content Analysis Technique. The implication of the
study on the policy is that the Government through the Insurance Regulatory Authority should be
able to formulate policies and regulations that will enhance uptake of insurance covers in Kenyan
market. The Government bodies should also be able to monitor and supervise Insurance
Companies and brokers to ensure consumer protection as provided by the bill of rights in the
current constitution. The results confirm to the findings of other empirical studies on the
relationship between strategies adopted and effectively implemented and organization
performance. The study will benefit both academia and practitioners as both will have informed
insight of strategies that have paid off for the company, future reference on research work and
will also form the basis of further study.
Publisher
University of Nairobi