Growth Strategies And Performance Of Insurance Firms In Kenya

Abstract

The study sought to determine the influence of growth strategies on performance of Insurance Firms in Kenya. The study used descriptive survey method research design to collect and analyse the data, collected using questionnaires. The target population of the study was the entire 47 registered insurance companies operating in Kenya. Data coding and analysis was performed through SPSS. Descriptive analysis was used in the analysis and the data was summarized by use of tables and figures. The study found out that to a very great extent growth strategies influences performance of Insurance firms in Kenya and hence most of the insurance firms have adopted various growth strategies. The study recommends that insurance players to intensify the training and retraining of their staff and agents to make them more skilled, competent and professional so as to help in building consumer confidence in the insurance industry. The study further recommends more research to be done on the future role of micro insurance business in both benefiting the low-income citizens and increasing on the growth of the industry.