| dc.description.abstract | Strategic partnerships are arrangements between two companies to work together, to
make it easier for each of them to achieve their objectives. They offer a middle
ground enabling organizations to attain some purely in-house options. Strategic
partnerships are increasingly becoming popular in the business world in a bid to gain
competitive advantage; firms combine their assets and capabilities to achieve this.
Meaningful partnerships are the foundation for success. They allow companies to
share the risk and resources required to dominate a specific market. They give a
company a degree of flexibility not afforded by doing business on their own. To offer
quality and achieve competitiveness; insurance companies have embraced strategic
partnership. This study sought to establish the influence of strategic partnerships on
the performance of insurance companies. This research was conducted through a
survey study targeting operation managers for the 51 insurance companies licensed by
IRA to operate in Kenya. The study collected primary data by use of a questionnaire.
Data collected was analyzed through descriptive statistics, multiple linear regressions
was undertaken with a view of examining the cumulative effect of the independent
variables (Strategic partnerships and effectiveness of strategic partnerships) on the
dependent variable (Organizational performance). Strategic partnerships contributed
towards organizational performance of the insurance firms in Kenya. Higher
profitability, wider distribution of insurance products, higher retention rates of
customers were some outcomes identified as a result of the partnerships between
insurance companies and various partners. The results concluded that there is a
positive influence of each independent variable on dependent variable with the other
independent variables held constant | en_US |
